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77iR) SB 522 Enrolled version - Bill Text Page 5 of 12 <br /> <br /> 10-8 <br /> 10-9 <br />10-10 <br />10-11 <br />10-12 <br />10-13 <br />10-14 <br />10-15 <br />10-16 <br />10-17 <br />10-18 <br />10-19 <br />10-20 <br />10-21 <br />10-22 <br />10-23 <br />10-24 <br />10-25 <br />10-26 <br /> 11-1 <br /> 11-2 <br /> 11-3 <br /> 11-4 <br /> 11-5 <br /> 11-6 <br /> 11-7 <br /> 11-8 <br /> 11-9 <br />11-10 <br />11-11 <br />11-12 <br />11-13 <br />11-14 <br />11-15 <br />11-16 <br />11-17 <br />11-18 <br />11-19 <br /> <br /> [ (i} T~ _~ect~-~ m_'.y net be _~pF!ied te ~ ed,;co the <br /> <br /> [ (1) Tho annr:l ~ ..... ~ ~l' ~ ~ ~q ..... ~ ....... <br /> <br /> SECTION 12. Section 854.008, Government Code, is amended by <br />amendin~ Subsection (a) and adding S~sections (f) and (~) to read <br /> <br /> (a) A me~er who is eligible for se~ice retirement and who <br />te~inates emplo~ent with all part icipatin9 municipalities may <br />apply for a partial lump -sum distribution under this section. The <br />board of trustees may adopt rules to allow the beneficiary of a <br />deceased me~er who at the time of death was eligible for se~ice <br /> <br />11-20 retirement but had not retired to make th e same election that the <br /> <br />11-21 <br />11-22 <br />11-23 <br />11-24 <br />11-25 <br />11-26 <br /> 12-1 <br /> 12-2 <br /> 12-3 <br /> 12-4 <br /> 12-5 <br /> 12-6 <br /> 12-7 <br /> 12-8 <br /> 12-9 <br />12-10 <br />12-11 <br />12-12 <br />12-13 <br />12-14 <br />12-15 <br /> <br />member could have made under this section at the time of <br /> <br />retirement. <br /> (f) If a benefit payable under this sect ion is subject to a <br />domestic relations order that the retirement system determines is <br />qualified under Section 804.003, the alternate payee under that <br />order may elect to receive a partial lump -sum distribution under <br />Subsection (9). <br /> (9) The partial lump-sum distribution under Subsection (f) <br />shall be paid as a single payment, payable at the same time as the <br />first monthly annuity payment paid to the alternate payee, and <br />shall be deducted from the sum used in co mputin~ the alternate <br />Rayee,s annuity. The amount of the lump -sum distribution shall be <br />equal to the monthly payments, excluding any distributive benefit <br />payments that the alternate payee would otherwise have received, <br />during the: <br /> (1) 12 months after the effective date o f the member's <br /> <br />retirement; <br /> (2) 24 months after the effective date o f the member's <br /> <br />retirement; or <br /> (3) 36 months after the effective date o f the member's <br /> <br />retirement. <br /> <br />http://www.capit~.state.tx.us/cgi-bir~t~/viewtextcmd?LEG=77&SESS=R&CHAMBER=~... 11/1/2001 <br /> <br /> <br />