Tex. Gov't Code § 840A.055 · Subchapter B. CASH BALANCE BENEFITS
CHANGE IN OPTIONAL CASH BALANCE ANNUITY SELECTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person who retired and selected an optional cash balance annuity described by Section 840A.054(c)(1), (2), or (5) may change the optional annuity to a standard cash balance annuity only if:
(1) pursuant to a divorce decree, a court orders the change in the annuity to a standard cash balance annuity; or
(2) the retiree files with the retirement system a request to change the annuity and, in connection with a divorce between the retiree and the beneficiary designated by the retiree under Section 840A.054(b), the beneficiary has executed a written, notarized instrument that:
(A) releases the system from any claim to the annuity by the beneficiary; and
(B) transfers all of the beneficiary's interest in the annuity to the retiree.
(b) If a retiree files a request as provided by Subsection (a), the retirement system shall recompute the annuity as a standard cash balance annuity. The increase in the annuity under this section begins with the monthly payment made to the retiree for the month following the month in which a request is filed as provided by Subsection (a).
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 1092 (S.B. 1245), Sec. 16, eff. June 18, 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.840A.htm
- Text hash
- sha256 6a40d9f8e907900bf9c66d7875612bd06f36394a782b8d2cfb2a4754596365b0
- 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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