Bill Text: TX SB1683 | 2019-2020 | 86th Legislature | Introduced

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Bill Title: Relating to the benefits from, membership in, and administration of the Teacher Retirement System of Texas.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-14 - Referred to State Affairs [SB1683 Detail]

Download: Texas-2019-SB1683-Introduced.html

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86R8893 TSR-F
By: Huffman S.B. No. 1683

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