{"id":253666,"date":"2021-09-04T11:30:43","date_gmt":"2021-09-04T06:00:43","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=253666"},"modified":"2021-09-04T10:06:57","modified_gmt":"2021-09-04T04:36:57","slug":"usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/","title":{"rendered":"USA- Texas | Government passes law relating to Employees Retirement System of Texas"},"content":{"rendered":"<p style=\"text-align: justify;\">The Texas Government has passed Senate Bill no. 321, relating to contributions to, benefits from, and the administration of the Employees Retirement System of Texas. The law has come into effect on September 1, 2021.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">Key features of the Act are:<\/p>\n<ul>\n<li style=\"text-align: justify;\">The Act establishes a new cash balance retirement plan for new state employees starting on or after September 1, 2022.<\/li>\n<li style=\"text-align: justify;\">The new plan shall deposit a percentage of a worker\u2019s annual compensation in retirement accounts. Currently, employees have defined-benefit retirement accounts based on employment position and previous salaries.<\/li>\n<li style=\"text-align: justify;\">It requires the state to make annual amortization payments to the ERS trust fund in order to start paying down the existing unfunded liability. Therefore, this will lead to more stability in the pension fund and the funding period will be lowered.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #0000ff;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Texas Government has passed Senate Bill no. 321, relating to contributions to, benefits from, and the administration of the Employees Retirement <\/p>\n","protected":false},"author":121,"featured_media":253669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-253666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USA- Texas | Government passes law relating to Employees Retirement System of Texas | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USA- Texas | Government passes law relating to Employees Retirement System of Texas\" \/>\n<meta property=\"og:description\" content=\"The Texas Government has passed Senate Bill no. 321, relating to contributions to, benefits from, and the administration of the Employees Retirement\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-04T06:00:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Prachi Bhardwaj\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Prachi Bhardwaj\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/\"},\"author\":{\"name\":\"Prachi Bhardwaj\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/de579aff4bc6dd24b68d6d472ac92942\"},\"headline\":\"USA- Texas | Government passes law relating to Employees Retirement System of Texas\",\"datePublished\":\"2021-09-04T06:00:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/\"},\"wordCount\":149,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/USA-Texas1.jpg\",\"articleSection\":[\"Foreign Legislation\",\"Legislation Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/\",\"name\":\"USA- Texas | Government passes law relating to Employees Retirement System of Texas | SCC Times\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/USA-Texas1.jpg\",\"datePublished\":\"2021-09-04T06:00:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/de579aff4bc6dd24b68d6d472ac92942\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/USA-Texas1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/USA-Texas1.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2021\\\/09\\\/04\\\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USA- Texas | Government passes law relating to Employees Retirement System of Texas\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/de579aff4bc6dd24b68d6d472ac92942\",\"name\":\"Prachi Bhardwaj\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g\",\"caption\":\"Prachi Bhardwaj\"},\"description\":\"Senior Associate Editor\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/author\\\/editor_3\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"USA- Texas | Government passes law relating to Employees Retirement System of Texas | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/","og_locale":"en_US","og_type":"article","og_title":"USA- Texas | Government passes law relating to Employees Retirement System of Texas","og_description":"The Texas Government has passed Senate Bill no. 321, relating to contributions to, benefits from, and the administration of the Employees Retirement","og_url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2021-09-04T06:00:43+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","type":"image\/jpeg"}],"author":"Prachi Bhardwaj","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Prachi Bhardwaj","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#article","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/"},"author":{"name":"Prachi Bhardwaj","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942"},"headline":"USA- Texas | Government passes law relating to Employees Retirement System of Texas","datePublished":"2021-09-04T06:00:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/"},"wordCount":149,"commentCount":0,"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","articleSection":["Foreign Legislation","Legislation Updates"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/","url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/","name":"USA- Texas | Government passes law relating to Employees Retirement System of Texas | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","datePublished":"2021-09-04T06:00:43+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/04\/usa-texas-government-passes-law-relating-to-employees-retirement-system-of-texas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"USA- Texas | Government passes law relating to Employees Retirement System of Texas"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942","name":"Prachi Bhardwaj","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6665f184a76dd0a4639fad050ee78a671e5bd5b4767e2cd8b57665c9461c34ed?s=96&d=mm&r=g","caption":"Prachi Bhardwaj"},"description":"Senior Associate Editor","url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_3\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/USA-Texas1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/253666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=253666"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/253666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/253669"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=253666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=253666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=253666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}