By Craddick                                            H.B. No. 680
       74R321 GCH-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to a change of annuity selection by a retiree of the
    1-3  Employees Retirement System of Texas.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 814.1081(a), Government Code, is amended
    1-6  to read as follows:
    1-7        (a)  A person who retired and selected an optional service
    1-8  retirement annuity approved by the board of trustees or an optional
    1-9  service retirement annuity described by Section 814.108(c)(1) or
   1-10  (c)(2)<, and who designated a person as beneficiary who was not at
   1-11  the time of designation and is not currently the retiree's spouse
   1-12  or child> may change the optional annuity selection to the
   1-13  selection of a standard service retirement annuity by filing with
   1-14  the retirement system a request to change the annuity selection, if
   1-15  the retiree designated a person as beneficiary who:
   1-16              (1)  was not at the time of designation and is not
   1-17  currently the retiree's spouse or child; or
   1-18              (2)  has executed since the designation a transfer and
   1-19  release, approved by a court of competent jurisdiction, of the
   1-20  beneficiary's interest in the annuity and is not currently the
   1-21  retiree's spouse or child.
   1-22        SECTION 2.  The importance of this legislation and the
   1-23  crowded condition of the calendars in both houses create an
   1-24  emergency and an imperative public necessity that the
    2-1  constitutional rule requiring bills to be read on three several
    2-2  days in each house be suspended, and this rule is hereby suspended,
    2-3  and that this Act take effect and be in force from and after its
    2-4  passage, and it is so enacted.