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A BILL TO BE ENTITLED
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AN ACT
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relating to required state contributions to the Teacher Retirement |
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System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1575.202(a), Insurance Code, is amended |
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to read as follows: |
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(a) Each state fiscal year, the state shall contribute to |
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the fund an amount according to the following schedule: |
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(1) for the 2016-2017 plan year, an amount equal to |
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2.23 [one] percent of the salary of each active employee; and |
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(2) for the 2018-2019 plan year, and each plan year |
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thereafter, an amount equal to 3.19 percent of the salary of each |
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active employee. |
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SECTION 2. This Act takes effect September 1, 2015. |