Retirement benefits and contributions for firefighters in certain Texas municipalities.
This bill amends the Texas Firefighters' Retirement System, affecting retirement benefits and contributions for firefighters in certain municipalities. It modifies the eligibility and benefits for the Deferred Retirement Option Program (DROP), including changes to interest on DROP accounts and the ability of surviving dependent children to elect DROP participation. It also adjusts the composition of the board of trustees, including the appointment of a public member, and outlines the process for actuarial studies and audits.
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