Texas HB4029 creates a supplemental program retirement fund for certain law enforcement officers in the Teacher Retirement System of Texas.

Texas HB4029 amends the Teacher Retirement System of Texas to establish a supplemental program retirement fund for certain law enforcement officers. Employers of these officers must deduct an additional 0.5 percent contribution from their compensation, deposited in the fund. The fund will be used to pay supplemental retirement, disability, and death benefits to eligible officers and related beneficiaries. The bill also outlines the investment authority of the board of trustees and the administration of supplemental benefits.

Texas HB4029 creates a supplemental program retirement fund for certain law enforcement officers in the Teacher Retirement System of Texas.

Texas HB4029 amends the Teacher Retirement System of Texas to establish a supplemental program retirement fund for certain law enforcement officers. Employers of these officers must deduct an additional 0.5 percent contribution from their compensation, deposited in the fund. The fund will be used to pay supplemental retirement, disability, and death benefits to eligible officers and related beneficiaries. The bill also outlines the investment authority of the board of trustees and the administration of supplemental benefits.