88R1321 BDP-D     By: Hinojosa H.B. No. 1097       A BILL TO BE ENTITLED   AN ACT   relating to the cash balance annuity for members of the legislature   and the lieutenant governor.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 820.053(a), Government Code, is amended   to read as follows:          (a)  The state match for the cash balance benefit for:                (1)  service credited to the employee or elected class   of membership is an amount computed by multiplying the member's   accumulated account balance by 150 percent; and                (2)  service credited to the employee class of   membership by a member eligible to retire under this chapter as a   law enforcement or custodial officer is an amount computed by   multiplying the member's accumulated account balance by:                      (A)  except as provided by Paragraph (B), 150   percent; and                      (B)  for the portion of the accumulated account   balance based on the member's additional two percent contribution   under Section 820.101(b), including interest, attributable to   service as a law enforcement or custodial officer, 300 percent,   paid from the law enforcement and custodial officer supplemental   retirement fund[; and                [(3) subject to Subsection (c), service credited to the   elected class of membership is an amount computed by multiplying   the member's accumulated account balance by 150 percent].          SECTION 2.  Section 820.053(c), Government Code, is   repealed.          SECTION 3.  Section 820.053, Government Code, as amended by   this Act, applies only to the cash balance annuity of a member of   the elected class who is first eligible to become a member of the   elected class on or after September 1, 2024. The cash balance   annuity of a member of the elected class who is first eligible to   become a member of the elected class before September 1, 2024, is   governed by the law as it existed immediately before that date, and   that law is continued in effect for that purpose.          SECTION 4.  This Act takes effect on the date on which the   constitutional amendment proposed by the 88th Legislature, Regular   Session, 2023, setting the salaries of members of the legislature   and the lieutenant governor based on the average public school   teacher salary in this state is approved by the voters. If that   amendment is not approved by the voters, this Act has no effect.