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. 1-52 * * * * *