1-1     By:  King of Parker, et al.                           H.B. No. 2152
 1-2          (Senate Sponsor - Shapiro)
 1-3           (In the Senate - Received from the House May 11, 1999;
 1-4     May 12, 1999, read first time and referred to Committee on State
 1-5     Affairs; May 14, 1999, reported favorably by the following vote:
 1-6     Yeas 7, Nays 0; May 14, 1999, sent to printer.)
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to a partial lump-sum distribution on retirement from the
1-10     Texas County and District Retirement System.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1.  Subchapter A, Chapter 844, Government Code, is
1-13     amended by adding Section 844.009 to read as follows:
1-14           Sec. 844.009.  PARTIAL LUMP-SUM DISTRIBUTION ON SERVICE
1-15     RETIREMENT.  (a)  This section applies to all subdivisions that
1-16     elect after December 31, 1999, to begin participation in the
1-17     retirement system.  The governing body of any subdivision
1-18     participating as of December 31, 1999, may adopt the provisions of
1-19     this section:
1-20                 (1)  on the terms provided by Subchapter H; or
1-21                 (2)  if the board of trustees determines that, based on
1-22     computations by the retirement system's actuary, the adoption would
1-23     not impair the ability of the subdivision to fund all obligations
1-24     against its account in the subdivision accumulation fund before the
1-25     25th anniversary of the subdivision's most recent actuarial
1-26     valuation date.
1-27           (b)  A member who is eligible and applies for service
1-28     retirement may simultaneously apply for a partial lump-sum
1-29     distribution under this section.
1-30           (c)  The amount of a lump-sum distribution under this section
1-31     may not exceed 100 percent of the total contributions and
1-32     accumulated interest in the member's individual account in the
1-33     employees saving fund attributable to the credited service on which
1-34     the member has applied for retirement.
1-35           (d)  The lump-sum distribution will be made as a single
1-36     payment paid at the same time as the first monthly annuity payment.
1-37           (e)  For all purposes, the member's basic annuity is the
1-38     annuity actuarially determined from the sum remaining under Section
1-39     844.002(b) after deducting the amount of the lump-sum distribution.
1-40           (f)  The amount of a lump-sum distribution made under this
1-41     section is considered to be an annuity payment for the purpose of
1-42     determining whether the amount in the retiree's individual account
1-43     in the employees saving fund available for distribution at the time
1-44     of retirement exceeds the total amount of annuity payments made.
1-45           (g)  A member's guardian, attorney in fact, conservator, or
1-46     trustee may make an application for the member under Subsection
1-47     (b).
1-48           (h)  No portion of a benefit awarded to an alternate payee
1-49     under a qualified domestic relations order may be distributed in
1-50     the form of a lump sum under this section, except that if the
1-51     member and the alternate payee agree in writing that the alternate
1-52     payee will receive a lump-sum payment instead of benefits awarded
1-53     under the qualified domestic relations order, the amount of the
1-54     lump-sum distribution described in the agreement may be paid
1-55     directly to the alternate payee in complete satisfaction of the
1-56     alternate payee's marital property rights and interest in the
1-57     member's benefit.
1-58           (i)  Section 842.110(h) does not apply to a person who
1-59     receives a partial lump-sum payment under this section, unless the
1-60     person receives the payment as an alternate payee under Subsection
1-61     (h).
1-62           SECTION 2.  This Act takes effect December 31, 1999.
1-63           SECTION 3.  The importance of this legislation and the
1-64     crowded condition of the calendars in both houses create an
 2-1     emergency and an imperative public necessity that the
 2-2     constitutional rule requiring bills to be read on three several
 2-3     days in each house be suspended, and this rule is hereby suspended.
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