Tex. Gov't Code § 814.110 · Subchapter B. SERVICE RETIREMENT BENEFITS
INCREASING ANNUITY OPTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A member who is eligible for a service retirement annuity not reduced because of age may select a standard retirement annuity or an optional service retirement annuity described by Section 814.108 together with the option for an increasing annuity as described by this section.
(b) The retirement system shall provide the increasing annuity option by reducing the member's annuity for an appropriate implementation period beginning immediately after the member's retirement and annually increasing the amount of the annuity by two percent or by another percentage rate, as determined by the system under Subsection (c), for each year during the applicable implementation period.
(c) The retirement system may offer other increasing annuity options similar to the option described by Subsection (b), including increasing annuity options providing a different percentage rate of increase or a different implementation period.
(d) If a member elects to receive an increasing annuity option under this section, the member's annuity must be calculated to reflect the option selected and be actuarially equivalent to a standard or optional service retirement annuity, as applicable, that the member would have been entitled to had the member not elected to receive the option. The annuity must be computed to result in no actuarial loss to the retirement system.
(e) The increasing annuity option under this section may be elected only once by a member and may not be elected by a retiree. A member retiring under the proportionate retirement program under Chapter 803 is not eligible for the option.
(f) This section does not apply to:
(1) a disability retirement annuity; or
(2) an annuity based on service credited in the elected class.
(g) Before a retiring member selects an increasing annuity option under this section, the retirement system must provide a written notice to the member of the amount by which the member's annuity will be reduced and the implementation period applicable because of that selection. The retirement system shall maintain a copy of the notice required under this subsection that is signed by the member.
(h) The board of trustees may adopt rules for the implementation of this section.
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 403 (H.B. 1393), Sec. 1, eff. September 1, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.814.htm
- Text hash
- sha256 372f8b2fab92ae8c4fb19209cb31370fa6dd7a7599e9566914d109713caefc7a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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