Texas HB2554 amends employer contributions for employed retirees in the Teacher Retirement System of Texas.

Texas HB2554 modifies the payment of employer contributions for employed retirees in the Teacher Retirement System of Texas. The bill amends Section 825.4092 of the Government Code, adjusting the contribution amounts employers must make for each retiree. Employers must contribute an amount based on the retiree's salary, equal to the sum of the retiree's contribution if active and the state's contribution if the retiree were active. The bill also allows the retirement system to waive contributions for one or more fiscal years, with employers not required to pay waived amounts.

Texas HB2554 amends employer contributions for employed retirees in the Teacher Retirement System of Texas.

Texas HB2554 modifies the payment of employer contributions for employed retirees in the Teacher Retirement System of Texas. The bill amends Section 825.4092 of the Government Code, adjusting the contribution amounts employers must make for each retiree. Employers must contribute an amount based on the retiree's salary, equal to the sum of the retiree's contribution if active and the state's contribution if the retiree were active. The bill also allows the retirement system to waive contributions for one or more fiscal years, with employers not required to pay waived amounts.