TX SB1527

Establishes actuarially determined contribution rates for city contributions to police and firefighter pension systems, with a five-year step-up period beginning October 2024 and a 30-year closed amortization schedule based on the January 1, 2023 actuarial valuation

Sets fixed dollar contribution amounts for unfunded actuarial accrued liability ranging from $168.6 million in FY2025 to $448.3 million in FY2054, plus $7 million annually for administrative expenses (increasing after 2039)

Requires both pension board and city council approval for lawsuit settlements, benefit increases, or actuarial assumption changes that would increase pension system liabilities

Creates a reconciliation process when the pension system's actuary and city's actuary disagree by more than 3% on contribution rates, with a 30-day period to resolve differences or average the two rates

Caps city contributions for fiscal years 2025-2029 at the fixed dollar amount plus the maximum percentage rate multiplied by projected aggregate compensation pay, with this cap expiring October 1, 2029

Repeals former Section 2.025 and declares any plans or rules adopted under that section unenforceable