Senate panel backs optional 8% employee contribution option for TMRS
The Senate Finance Committee voted to report House Bill 3161 out of committee after testimony backing a permissive option to let Texas cities add an 8% employee contribution rate to the Texas Municipal Retirement System (TMRS). Supporters said the change is optional and intended to help local recruitment and retirement funding choices.
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House Bill 3161, carried in the Senate by Senator Adam Hinojosa, was laid out to the Senate Finance Committee as a permissive change allowing municipalities participating in the Texas Municipal Retirement System to adopt an 8% employee contribution rate. Senator Hinojosa said the bill adds an option beyond the current 5%, 6% or 7% contribution choices and stressed the change would be voluntary for cities.
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