By Hochberg                                           H.B. No. 1334

         75R2081 GCH-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to a change of beneficiary by a retiree of the Teacher

 1-3     Retirement System of Texas.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Section 824.101(c), Government Code, is amended

 1-6     to read as follows:

 1-7           (c)  Only one person may be designated as beneficiary of an

 1-8     optional retirement annuity under Section 824.204(c)(1), (c)(2), or

 1-9     (c)(5), and a designation of beneficiary under any [either] of

1-10     those options may not be made, changed, or revoked, except as

1-11     provided by Sections 824.1011 and 824.1012, after the later of the

1-12     date on which the retirement system makes the first annuity payment

1-13     to the retiree or the date the first payment becomes due.  For

1-14     purposes of this section, the term "makes payment" includes the

1-15     depositing in the mail of a payment warrant or the crediting of an

1-16     account with payment through electronic funds transfer.

1-17           SECTION 2.  Subchapter B, Chapter 824, Government Code, is

1-18     amended by adding Section 824.1012 to read as follows:

1-19           Sec. 824.1012.  CHANGE OF BENEFICIARY AFTER RETIREMENT.  (a)

1-20     A retiree receiving an optional retirement annuity under Section

1-21     824.204(c)(1), (c)(2), or (c)(5) or Section 824.308(c)(1), (c)(2),

1-22     or (c)(5) may change the designated beneficiary as provided by this

1-23     section for the benefits payable after the retiree's death under

1-24     those sections.

 2-1           (b)  If the beneficiary designated at the time of the

 2-2     retiree's retirement is the spouse or former spouse of the retiree:

 2-3                 (1)  the spouse or former spouse must give written,

 2-4     notarized consent to the change; or

 2-5                 (2)  a court with jurisdiction over the marriage must

 2-6     have ordered the change.

 2-7           (c)  A beneficiary designated under this section is entitled

 2-8     on the retiree's death to receive monthly payments of the

 2-9     survivor's portion of the retiree's optional retirement annuity for

2-10     the shorter of:

2-11                 (1)  the remainder of the life expectancy of the

2-12     beneficiary designated as of the effective date of the retiree's

2-13     retirement; or

2-14                 (2)  the remainder of the new beneficiary's life.

2-15           (d)  A retiree may not change a beneficiary under this

2-16     section after retirement if the retiree has previously changed or

2-17     designated after retirement a beneficiary for optional retirement

2-18     annuity payments under this subtitle.

2-19           SECTION 3.  The importance of this legislation and the

2-20     crowded condition of the calendars in both houses create an

2-21     emergency and an imperative public necessity that the

2-22     constitutional rule requiring bills to be read on three several

2-23     days in each house be suspended, and this rule is hereby suspended,

2-24     and that this Act take effect and be in force from and after its

2-25     passage, and it is so enacted.