HBA-TYH H.B. 132 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 132 By: McClendon Pensions and Investments 3/4/1999 Introduced BACKGROUND AND PURPOSE Currently, the Teacher Retirement System's formula multiplier for the standard service retirement annuity is two percent. This creates a disparity between the retirement package of Texas teachers and the retirement packages provided to teachers by other states. H.B. 132 increases the formula multiplier to two and one-quarter percent. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subsection 824.203 (a) and (e), Government Code, to increase the formula multiplier for computing the standard service retirement annuity for the Teacher Retirement System from two to two and one-quarter percent. SECTION 2. Effective date: September 1, 1999. SECTION 3. Emergency clause.