Legislation Relating to Retirement Benefits
Senate Bill 1459 as finally approved by the Texas House of Representatives on Tuesday, May 21, is identical to the version passed by the Texas Senate on May 13. Therefore the bill now goes to the Governor for his review. Click on the link below for a summary of the changes contemplated by SB 1459. Note that SB 1459 as sent to the Governor would not change retirement compensation benefits for current state employees. In regards to the state's contribution for retiree health insurance, only employees who have less than five years of service as of September 1, 2014, would be impacted. The bill would also increase the contributions paid by all employees for retirement in order to maintain existing benefits.
Proposed Retirement Legislation SB1459 Update (5-21-13)