By: Ashby, et al. (Senate Sponsor - Nichols) H.B. No. 4945          (In the Senate - Received from the House April 30, 2025;   May 5, 2025, read first time and referred to Committee on Finance;   May 21, 2025, reported favorably by the following vote:  Yeas 13,   Nays 0; May 21, 2025, sent to printer.)Click here to see the committee vote     A BILL TO BE ENTITLED   AN ACT     relating to a study by the Teacher Retirement System of Texas on the   feasibility of offering alternative service retirement benefits to   certain members of the retirement system engaged in wildland   firefighting or employed in positions related to wildland   firefighting.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter B, Chapter 825, Government Code, is   amended by adding Section 825.1086 to read as follows:          Sec. 825.1086.  STUDY AND REPORT ON ALTERNATIVE SERVICE   RETIREMENT BENEFITS FOR CERTAIN WILDLAND FIREFIGHTERS AND RELATED   EMPLOYEES.  (a)  The retirement system shall conduct a study on the   feasibility of offering members who are Texas A&M Forest Service   wildland firefighters and are employed in positions related to   wildland firefighting alternative service retirement benefits   under the system.          (b)  In conducting the study, the retirement system shall   assess the costs to and impact on the retirement system associated   with offering members described by Subsection (a) the following   alternative service retirement benefits:                (1)  a service retirement benefit under the existing   benefit plan that provides retirement eligibility and a   supplemental benefit under Subsection (c) within a new tier, to be   named Hazardous Duty, for:                      (A)  a member who is at least 55 years old and who   has at least 10 years of service credit as a wildland firefighter;                      (B)  a member who has at least 25 years of service   credit as a wildland firefighter, regardless of age; or                      (C)  a member who has at least 20 years of service   credit as a wildland firefighter, except that the member's service   retirement annuity will be actuarially reduced by five percent for   every year of difference between the member's age at retirement and   the normal retirement age within this tier; and                (2)  a service retirement benefit under the existing   plan that provides retirement eligibility and a supplemental   benefit under Subsection (c), as applicable, within a new tier, to   be named Hazardous Duty-Administrative Support, for:                      (A)  a member who is vested in the retirement   system and who has been employed as a wildland firefighter during   the entirety of the member's employment with the Texas A&M Forest   Service; or                      (B)  a member who has service credit as a wildland   firefighter equal to at least the minimum number of years of service   credit required to vest in the system and who is employed in a   position that provides support services to wildland firefighters on   the member's retirement date.          (c)  The standard service retirement annuity for a member who   is eligible to retire under a proposal described by Subsection   (b)(1) or (b)(2)(A) would be an amount computed on the basis of the   member's average annual compensation for the five years of service,   whether or not consecutive, in which the member received the   highest annual compensation, times the sum of the percentage factor   used in the computation of a standard service retirement annuity   under Section 824.203(a) plus 0.5 percent.          (d)  The standard service retirement annuity for a member who   is eligible to retire under a proposal described by Subsection   (b)(2)(B) based on the age and service requirements described in   Subsection (b)(1) is the standard service retirement annuity   described by Subsection (c), provided the member is not entitled to   the additional 0.5 percent described by Subsection (c).          (e)  Not later than March 1, 2026, the retirement system   shall begin coordinating with the Texas A&M Forest Service to   determine:                (1)  positions that will qualify for benefits proposed   by Subsection (b) and the salaries of both existing and terminated   employees who accrued service credit for service provided on or   after September 1, 2009, and who would be eligible to retire under   any of the requirements proposed by Subsection (b) based on that   service credit;                (2)  the effectiveness of using either the standard   service retirement annuity calculation under Section 824.203 plus   0.5 percent or a different annuity calculation that would provide   similar or more benefits than the calculation under Section 824.203   for a member who would be eligible to retire under any of the   requirements proposed by Subsection (b)(1) while maintaining the   actuarial soundness of the retirement system;                (3)  the additional percentage of salary contribution   needed by both the employer and employee to provide for the   alternative retirement benefits proposed by Subsection (b) while   maintaining the actuarial soundness of the retirement system;                (4)  the cost computed as additional employer and   employee contributions to provide the alternative retirement   benefits proposed by Subsection (b) attributable to service credit   described by that subsection for service performed on or after   September 1, 2009; and                (5)  the cost and implications of the minimum age or   service credit requirements proposed by Subsection (b) to the   extent those age or service credit requirements are less stringent   than the minimum age or service credit requirements provided by   this subtitle.          (f)  Not later than December 31, 2026, the retirement system   shall prepare and submit a report to the legislature that contains   the findings of the study and the determinations required by   Subsection (e).          (g)  The Legislative Budget Board and the State Pension   Review Board shall, as necessary:                (1)  assist the retirement system in conducting the   study; and                (2)  provide the retirement system with any information   needed to complete the report required by Subsection (f).          (h)  This section expires September 1, 2027.          SECTION 2.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution.  If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2025.     * * * * *