1-1     By:  Hochberg (Senate Sponsor - Cain)                  H.B. No. 264
 1-2           (In the Senate - Received from the House March 29, 1999;
 1-3     March 30, 1999, read first time and referred to Committee on State
 1-4     Affairs; April 30, 1999, reported favorably by the following vote:
 1-5     Yeas 8, Nays 0; April 30, 1999, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to a change of beneficiary by a retiree of the Employees
 1-9     Retirement System of Texas.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Subchapter A, Chapter 814, Government Code, is
1-12     amended by adding Section 814.008 to read as follows:
1-13           Sec. 814.008.  CHANGE OF BENEFICIARY AFTER RETIREMENT.  (a)
1-14     A retiree receiving an optional service or disability retirement
1-15     annuity approved by the board of trustees or described by Section
1-16     814.108(c)(1) or (c)(2) may change the designated beneficiary as
1-17     provided by this section for the benefits payable after the
1-18     retiree's death.
1-19           (b)  If the beneficiary designated at the time of the
1-20     retiree's retirement is the spouse or former spouse of the retiree:
1-21                 (1)  the spouse or former spouse must give written,
1-22     notarized consent to the change; or
1-23                 (2)  a court with jurisdiction over the marriage must
1-24     have ordered the change.
1-25           (c)  A beneficiary designated under this section is entitled
1-26     on the retiree's death to receive monthly payments of the
1-27     survivor's portion of the retiree's optional retirement annuity for
1-28     the shorter of:
1-29                 (1)  the remainder of the life expectancy of the
1-30     beneficiary designated as of the effective date of the retiree's
1-31     retirement; or
1-32                 (2)  the remainder of the new beneficiary's life.
1-33           (d)  A retiree may not change a beneficiary under this
1-34     section after retirement if the retiree has previously changed
1-35     after retirement a beneficiary for optional retirement annuity
1-36     payments under this subtitle.
1-37           SECTION 2.  Section 814.108(g), Government Code, is amended
1-38     to read as follows:
1-39           (g)  Except as provided by Section 814.008 or 814.1081, a
1-40     person who selected an optional service retirement annuity approved
1-41     by the board of trustees or an optional service retirement annuity
1-42     described by Subsection (c)(1) or (c)(2) may not change or revoke a
1-43     beneficiary designation after the person's effective date of
1-44     retirement.
1-45           SECTION 3.  The importance of this legislation and the
1-46     crowded condition of the calendars in both houses create an
1-47     emergency and an imperative public necessity that the
1-48     constitutional rule requiring bills to be read on three several
1-49     days in each house be suspended, and this rule is hereby suspended,
1-50     and that this Act take effect and be in force from and after its
1-51     passage, and it is so enacted.
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