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| 3 | 5 | | |
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| 4 | 6 | | A BILL TO BE ENTITLED |
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| 5 | 7 | | AN ACT |
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| 6 | 8 | | relating to a change of beneficiary by a retiree of the Employees |
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| 7 | 9 | | Retirement System of Texas. |
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| 8 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 11 | | SECTION 1. Sec. 814.008, Government Code, is amended to |
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| 10 | 12 | | read as follows: |
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| 11 | 13 | | Sec. 814.008. CHANGE OF BENEFICIARY AFTER RETIREMENT. |
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| 12 | 14 | | (a) A retiree receiving an optional service or disability |
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| 13 | 15 | | retirement annuity approved by the board of trustees or described |
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| 14 | 16 | | by Section 814.108(c)(1), (c)(2), or (c)(5) or receiving an |
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| 15 | 17 | | optional cash balance annuity described by Section 820.0535(c)(1), |
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| 16 | 18 | | (c)(2), or (c)(5) may change the designated beneficiary as provided |
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| 17 | 19 | | by this section for the benefits payable after the retiree's death. |
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| 18 | 20 | | (b) If the beneficiary designated at the time of the |
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| 19 | 21 | | retiree's retirement is the current spouse or former spouse of the |
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| 20 | 22 | | retiree: |
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| 21 | 23 | | (1) the current spouse or former spouse must give |
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| 22 | 24 | | written, notarized consent to the change; or |
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| 23 | 25 | | (2) a court with jurisdiction over the marriage must |
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| 24 | 26 | | have ordered the change. |
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| 25 | 27 | | (c) A beneficiary designated under this section is entitled |
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| 26 | 28 | | on the retiree's death to receive monthly payments of the survivor's |
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| 27 | 29 | | portion of the retiree's optional retirement annuity for the |
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| 28 | 30 | | shorter of: |
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| 29 | 31 | | (1) the remainder of the life expectancy of the |
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| 30 | 32 | | beneficiary designated as of the effective date of the retiree's |
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| 31 | 33 | | retirement; or |
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| 32 | 34 | | (2) the remainder of the new beneficiary's life. |
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| 33 | 35 | | (d) A retiree may not change a beneficiary under this |
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| 34 | 36 | | section after retirement if the retiree has previously changed |
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| 35 | 37 | | after retirement a beneficiary for optional retirement annuity |
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| 36 | 38 | | payments under this subtitle. |
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| 37 | 39 | | SECTION 2. This Act applies to a retiree who makes a change |
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| 38 | 40 | | of beneficiary under this section on, before or after the effective |
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| 39 | 41 | | date of this Act regardless of the date on which the previous |
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| 40 | 42 | | annuity selection was made. |
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| 41 | 43 | | SECTION 3. This Act takes effect September 1, 2025. |
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