TX SB2234

Raises the population threshold for municipalities covered by this firefighters' relief and retirement fund statute from 1,600,000 to 2,000,000, effectively limiting application to larger Texas cities

Simplifies normal retirement age definition to either: (A) when a member attains 20 years of service, or (B) when a member reaches age 50 with at least 10 years of service, eliminating the previous "Rule of 70" calculation for post-2017 hires

Extends the maximum Deferred Retirement Option Plan (DROP) participation period from 13 years to 20 years, allowing firefighters to continue accruing DROP benefits for a longer period while remaining in active service

Increases the annual earnings credit rate for DROP accounts from 65% to 70% of the fund's five-year average annual return, with a minimum guaranteed rate of 2.5%

Expands DROP participant eligibility for disability benefits under Section 6(c) to those with less than 13 years of DROP participation, and makes deferred pension benefits (1.7% of average salary per year of service, starting at age 50) available to all members with 10-20 years of participation who terminate service