Texas Statutes (Last Updated: January 4, 2014) |
GOVERNMENT CODE |
Title 8. PUBLIC RETIREMENT SYSTEMS |
Subtitle D. JUDICIAL RETIREMENT SYSTEM OF TEXAS PLAN ONE |
Chapter 834. BENEFITS |
Subchapter B. SERVICE RETIREMENT BENEFITS |
Sec. 834.102. SERVICE RETIREMENT ANNUITY
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(a) The base service retirement annuity is an amount equal to 50 percent of the state salary, as adjusted from time to time, being paid a judge of a court of the same classification as the court on which the retiree last served before retirement.
(b) The retirement system shall increase by 10 percent of the amount of the applicable state salary under Subsection (a) or (d) the annuity of a member who on the effective date of retirement:
(1) has not been out of judicial office for more than one year; or
(2) has served as a visiting judge in this state and the first anniversary of the last day of that service has not occurred.
(c) The service retirement annuity of a member qualifying for retirement under Section 834.101(a) is the applicable state salary under Subsection (a), multiplied by a percentage amount that is the sum of 50 percent plus the product of 2.3 percent multiplied by the number of years of subsequent service credit the member accrues under Section 835.1015(a). After including any increase under Subsection (b), the service retirement annuity under this subsection may not be an amount that is greater than 90 percent of the applicable salary under Subsection (a).
(d) The service retirement annuity of a person qualifying for retirement under Section 834.101(b) is an amount computed as a percentage of the state salary, as adjusted from time to time, being paid a judge of a court of the same classification as the court on which the retiree last served before retirement, according to the following schedule:
percentage age at retirement of state salary at least 60 but less than 61 40 percent at least 61 but less than 62 41.7 percent at least 62 but less than 63 43.6 percent at least 63 but less than 64 45.6 percent at least 64 but less than 65 47.7 percent