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A BILL TO BE ENTITLED
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AN ACT
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relating to the benefits from, membership in, and administration of |
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the Teacher Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 822.003(a), Government Code, is amended |
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to read as follows: |
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(a) A person terminates membership in the retirement system |
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by: |
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(1) death; |
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(2) retirement; |
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(3) withdrawal of all of the person's accumulated |
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contributions while the person is absent from service; or |
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(4) not qualifying for service credit for five |
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consecutive years. |
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SECTION 2. Section 822.005(d), Government Code, is amended |
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to read as follows: |
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(d) The retirement system shall adopt procedures to track |
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and compile information of all applications filed under this |
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section from the time an application is made until [any warrant for] |
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the refund is issued by the retirement system. |
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SECTION 3. Section 823.006, Government Code, is amended to |
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read as follows: |
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Sec. 823.006. LIMITS ON ANNUAL CONTRIBUTIONS FOR PURCHASE |
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OF SERVICE CREDIT. Notwithstanding any other provision of this |
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subtitle, the retirement system shall [may] limit the purchase of |
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service credit to the extent required by applicable limits on the |
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amount of annual contributions a participant may make to a |
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qualified plan under Sections 401(a) and 415(c), Internal Revenue |
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Code of 1986. |
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SECTION 4. Section 824.101(g), Government Code, is amended |
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to read as follows: |
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(g) Receipt by the retirement system of a certified copy of |
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a divorce or annulment decree between a member or annuitant and a |
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designated beneficiary revokes any designation of the former spouse |
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as beneficiary of any death benefits payable under Subchapter E or F |
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of this chapter that was effective before the date of divorce or |
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annulment, if the decree is received by the retirement system |
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before the payment of any part of the death benefit to any |
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beneficiary. |
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SECTION 5. Section 824.1013(c-1), Government Code, is |
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amended to read as follows: |
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(c-1) Notwithstanding Subsection (c), a trust designated as |
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a beneficiary under this section is entitled on the retiree's death |
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to receive monthly payments of the survivor's portion of the |
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retiree's optional retirement annuity for the remainder of the |
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trust beneficiary's life if the beneficiary designated at the time |
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of the retiree's retirement is the sole beneficiary of the trust. A |
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beneficiary designated under this section is entitled on the |
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retiree's death to receive monthly payments of the survivor's |
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portion of the retiree's optional retirement annuity for the |
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remainder of the beneficiary's life if the beneficiary designated |
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at the time of the retiree's retirement is a trust and the |
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beneficiary designated under this section is: |
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(1) the sole beneficiary of that trust; or |
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(2) an individual who at the time of the retiree's |
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death is the sole beneficiary of that trust. |
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SECTION 6. Section 824.201(a), Government Code, is amended |
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to read as follows: |
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(a) A member may apply for a service retirement annuity by |
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filing an [a written] application for retirement with the board of |
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trustees. |
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SECTION 7. Section 824.301(a), Government Code, is amended |
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to read as follows: |
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(a) A member may apply for a disability retirement annuity |
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by: |
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(1) filing an [a written] application for retirement |
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with the board of trustees; or |
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(2) having an application filed with the board by the |
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member's legal representative. |
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SECTION 8. The heading to Section 824.404, Government Code, |
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is amended to read as follows: |
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Sec. 824.404. OPTIONAL MONTHLY SURVIVOR BENEFITS. |
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SECTION 9. This Act takes effect September 1, 2019. |