Texas SB2065 amends the Texas Emergency Services Retirement System, adjusting definitions, contribution requirements, and annuity payments.
Texas SB2065 amends the Texas Emergency Services Retirement System by modifying definitions such as "actuarially sound" and "unfunded actuarial accrued liability." It specifies that contributions must be sufficient to cover the normal cost and amortize the unfunded actuarial accrued liability within a certain period. The bill also adjusts the formula for service retirement annuities, excluding certain contributions from the calculation.
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- Core Provisions
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- Legal Framework
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