Texas 2025 - 89th Regular

Texas House Bill HB4534 Compare Versions

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

Old	New	Differences
1	1	89R15299 RDR-F
2	2	By: Metcalf H.B. No. 4534
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7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to death benefits provided under certain police officer
10	10	retirement systems.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. The heading of Section 6.05, Chapter 452 (S.B.
13	13	738), Acts of the 72nd Legislature, Regular Session, 1991 (Article
14	14	6243n-1, Vernon's Texas Civil Statutes), is amended to read as
15	15	follows:
16	16	Sec. 6.05. DEATH OF A MEMBER; TREATMENT OF ACCUMULATED
17	17	DEPOSITS; LUMP SUM DEATH BENEFITS.
18	18	SECTION 2. Section 6.05, Chapter 452 (S.B. 738), Acts of the
19	19	72nd Legislature, Regular Session, 1991 (Article 6243n-1, Vernon's
20	20	Texas Civil Statutes), is amended by amending Subsection (c) and
21	21	adding Subsection (d) to read as follows:
22	22	(c) In the event of death of a retired member [receiving a
23	23	retirement benefit], the sum of $10,000 shall be payable in a lump
24	24	sum to the retired member's beneficiary or, if no beneficiary, to
25	25	the retired member's estate, unless the retired member shall have
26	26	directed otherwise in writing, duly acknowledged and filed with the
27	27	board. The payment under this subsection shall be made from the
28	28	[retiree] death benefit [benefits] fund described in Section 6.08
29	29	of this Act.
30	30	(d) In the event of the death of a member who dies as the
31	31	direct and proximate result of a personal injury associated with a
32	32	single event and sustained in the performance of a member's
33	33	employment duties with the police department of the city, the sum of
34	34	$1,000,000 shall be payable in a lump sum to the member's surviving
35	35	spouse, or if the member has no surviving spouse, to the member's
36	36	surviving children. If the member has no surviving spouse or
37	37	surviving children at the time of the member's death, the benefit
38	38	provided under this subsection shall be payable to the member's
39	39	estate. If a member has more than one surviving child that is
40	40	entitled to the benefit provided under this subsection, the benefit
41	41	shall be split equally between each of the member's surviving
42	42	children. The payment under this subsection shall be made from the
43	43	death benefit fund described in Section 6.08 of this Act.
44	44	SECTION 3. Section 6.08, Chapter 452 (S.B. 738), Acts of the
45	45	72nd Legislature, Regular Session, 1991 (Article 6243n-1, Vernon's
46	46	Texas Civil Statutes), is amended to read as follows:
47	47	Sec. 6.08. [RETIREE] DEATH BENEFIT FUND. (a) The police
48	48	retirement board shall establish a [retiree] death benefit fund and
49	49	shall deposit in such fund contributions paid by the city to provide
50	50	[retiree] death benefits in accordance with this section. The
51	51	board may, but is not required to, credit interest to the [retiree]
52	52	death benefit fund annually at such rate as the board may determine.
53	53	(b) The police retirement system shall pay death benefits
54	54	under Sections [Section] 6.05(c) and (d) of this Act only from money
55	55	in the [retiree] death benefit fund, and the benefits are not an
56	56	obligation of other funds of the retirement system.
57	57	(c) Based upon the recommendation of the system's actuary,
58	58	the board shall adopt such rates and tables as are considered
59	59	necessary to determine the [retiree] death benefit fund
60	60	contribution rate of the city. At the same time as the actuary
61	61	makes a valuation of the assets and liabilities of the system
62	62	pursuant to Section 3.09 of this Act, the actuary shall also make an
63	63	actuarial valuation of the assets and liabilities of the [retiree]
64	64	death benefit fund, and upon recommendation by the actuary, the
65	65	board shall adjust the rates and tables for the [retiree] death
66	66	benefit fund.
67	67	(d) If at any time the amount of payments due from the
68	68	[retiree] death benefit fund exceeds the balance of such fund, the
69	69	board may direct that funds be transferred from the general
70	70	retirement fund to the [retiree] death benefit fund in such amounts
71	71	as are necessary to cover the deficiency. Any sums transferred to
72	72	the [retiree] death benefit fund under this subsection shall be
73	73	repaid to the general retirement fund of the retirement system from
74	74	the death benefit fund with [at such time as] subsequent
75	75	contributions by the city on a schedule and in a manner determined
76	76	by the system [have resulted in the accumulation of a sufficient
77	77	amount in the retiree death benefit fund for such a repayment] to be
78	78	[appear] prudent. The actuary of the system shall adjust the rates
79	79	and tables described in Subsection (c) to reflect this repayment.
80	80	(e) Contributions by the city to the [retiree] death benefit
81	81	fund shall be made at the same time as the city makes its
82	82	contribution to the retirement system under Section 8.01 of this
83	83	Act, and the amount of the city's contribution under Section 8.01 of
84	84	this Act each pay period shall be reduced by the amount of the
85	85	city's contribution to the [retiree] death benefit fund for that
86	86	same pay period.
87	87	SECTION 4. This Act takes effect immediately if it receives
88	88	a vote of two-thirds of all the members elected to each house, as
89	89	provided by Section 39, Article III, Texas Constitution. If this
90	90	Act does not receive the vote necessary for immediate effect, this
91	91	Act takes effect September 1, 2025.