Texas 2019 - 86th Regular

Texas Senate Bill SB1683 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	86R8893 TSR-F
2	2	By: Huffman S.B. No. 1683
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the benefits from, membership in, and administration of
8	8	the Teacher Retirement System of Texas.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 822.003(a), Government Code, is amended
11	11	to read as follows:
12	12	(a) A person terminates membership in the retirement system
13	13	by:
14	14	(1) death;
15	15	(2) retirement;
16	16	(3) withdrawal of all of the person's accumulated
17	17	contributions while the person is absent from service; or
18	18	(4) not qualifying for service credit for five
19	19	consecutive years.
20	20	SECTION 2. Section 822.005(d), Government Code, is amended
21	21	to read as follows:
22	22	(d) The retirement system shall adopt procedures to track
23	23	and compile information of all applications filed under this
24	24	section from the time an application is made until [any warrant for]
25	25	the refund is issued by the retirement system.
26	26	SECTION 3. Section 823.006, Government Code, is amended to
27	27	read as follows:
28	28	Sec. 823.006. LIMITS ON ANNUAL CONTRIBUTIONS FOR PURCHASE
29	29	OF SERVICE CREDIT. Notwithstanding any other provision of this
30	30	subtitle, the retirement system shall [may] limit the purchase of
31	31	service credit to the extent required by applicable limits on the
32	32	amount of annual contributions a participant may make to a
33	33	qualified plan under Sections 401(a) and 415(c), Internal Revenue
34	34	Code of 1986.
35	35	SECTION 4. Section 824.101(g), Government Code, is amended
36	36	to read as follows:
37	37	(g) Receipt by the retirement system of a certified copy of
38	38	a divorce or annulment decree between a member or annuitant and a
39	39	designated beneficiary revokes any designation of the former spouse
40	40	as beneficiary of any death benefits payable under Subchapter E or F
41	41	of this chapter that was effective before the date of divorce or
42	42	annulment, if the decree is received by the retirement system
43	43	before the payment of any part of the death benefit to any
44	44	beneficiary.
45	45	SECTION 5. Section 824.1013(c-1), Government Code, is
46	46	amended to read as follows:
47	47	(c-1) Notwithstanding Subsection (c), a trust designated as
48	48	a beneficiary under this section is entitled on the retiree's death
49	49	to receive monthly payments of the survivor's portion of the
50	50	retiree's optional retirement annuity for the remainder of the
51	51	trust beneficiary's life if the beneficiary designated at the time
52	52	of the retiree's retirement is the sole beneficiary of the trust. A
53	53	beneficiary designated under this section is entitled on the
54	54	retiree's death to receive monthly payments of the survivor's
55	55	portion of the retiree's optional retirement annuity for the
56	56	remainder of the beneficiary's life if the beneficiary designated
57	57	at the time of the retiree's retirement is a trust and the
58	58	beneficiary designated under this section is:
59	59	(1) the sole beneficiary of that trust; or
60	60	(2) an individual who at the time of the retiree's
61	61	death is the sole beneficiary of that trust.
62	62	SECTION 6. Section 824.201(a), Government Code, is amended
63	63	to read as follows:
64	64	(a) A member may apply for a service retirement annuity by
65	65	filing an [a written] application for retirement with the board of
66	66	trustees.
67	67	SECTION 7. Section 824.301(a), Government Code, is amended
68	68	to read as follows:
69	69	(a) A member may apply for a disability retirement annuity
70	70	by:
71	71	(1) filing an [a written] application for retirement
72	72	with the board of trustees; or
73	73	(2) having an application filed with the board by the
74	74	member's legal representative.
75	75	SECTION 8. The heading to Section 824.404, Government Code,
76	76	is amended to read as follows:
77	77	Sec. 824.404. OPTIONAL MONTHLY SURVIVOR BENEFITS.
78	78	SECTION 9. This Act takes effect September 1, 2019.