State Representative Rob Orr is attacking your Retirement.
H.B. No. 958
A BILL TO BE ENTITLED
relating to the annual interest rate of the Texas County and District Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 845.314, Government Code, is amended to read as follows:
Sec. 845.314. INTEREST RATES. Unless this subtitle expressly states another specified rate of interest, for periods beginning after December 31, 2013 [
1996], the annual rate of interest is five[ seven] percent.
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, 2013.
This bill was presented to the Texas Legislature and will greatly impact your retirement. MCLEA received information about this and immediately contacted CLEAT to see if they were already fighting against its passage. Of course CLEAT was aware and was in full fight mode. MCLEA was asked to come to Austin and meet with CLEAT representatives to join many other law enforcement organizations in fighting for your retirement (TCDRS). Your President, Dave Wallace, Vice-President, Kevin Williams and Board Chairman, Jason Moore will be traveling to Austin to speak directly to the Texas legislators on February 26th, 2013 and will keep you informed.