SB2436 amends Texas Municipal Retirement System laws, affecting contributions, benefits, and ordinance requirements.
SB2436 amends the Texas Municipal Retirement System by modifying contribution rates, benefit calculations, and ordinance requirements. It specifies that ordinances must be approved by the board of trustees and actuaries, and that certain obligations must be funded within municipalities' amortization periods. The bill also adjusts the effective dates of ordinances and repeals certain sections of the Government Code related to the retirement system. This act takes effect on September 1, 2025.
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