Office of House Bill AnalysisH.B. 2464
By: Tillery
Pensions & Investments


Some judges have voiced concern over inequities between benefits and
options offered by the Judicial Retirement System of Texas (JRS) Plan One
and Plan Two.  House Bill 2464 authorizes JRS members who are not retired
to buy service credit in either plan, as applicable, using the same formula
and rate of contribution.  


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. 


House Bill 2464 amends the Government Code to authorize a member of the
Judicial Retirement System (JRS) who has not retired to establish service
credit in the JRS Plan One or Plan Two, as applicable, for any calendar
year during which the member held an office included in the membership of
JRS or was eligible to take an oath of office included in the membership of
JRS.  The member is authorized to establish credit by depositing with JRS a
contribution computed for each month of credit claimed at the rate of six
percent of the member's current monthly salary plus if the member does not
establish credit before the first anniversary of the first eligibility,
interest computed on the basis of the state fiscal year at an annual rate
of 10 percent from the date of first eligibility to the date of deposit. 

The bill provides that a member who accrues 20 years of service credit in
JRS Plan One ceases making contributions. 

The bill provides that service retirement annuities provided by JRS Plan
Two to a qualified person may be adjusted from time to time.  The bill
requires JRS Plan Two to increase by 10 percent of the amount of the
applicable state salary the annuity of a member who on the effective date
of retirement has served as a visiting judge in Texas and the first
anniversary date of the last day of that service has not occurred. 


September 1, 2001.