Tex. Gov't Code Section 814.1082
Partial Lump-sum Option

(a)

A member who is eligible for an unreduced service retirement annuity may select a standard retirement annuity or an optional retirement annuity described by Section 814.108 (Optional Service Retirement Benefits) together with a partial lump-sum distribution.

(b)

The amount of the lump-sum distribution under this section may not exceed the sum of 36 months of a standard service retirement annuity computed without regard to this section.

(c)

The service retirement annuity selected by the member shall be actuarially reduced to reflect the lump-sum option selected by the member and shall be actuarially equivalent to a standard or optional service retirement annuity, as applicable, without the partial lump-sum distribution. The annuity and lump sum shall be computed to result in no actuarial loss to the retirement system.

(d)

Unless otherwise specified in rules adopted by the board of trustees, the lump-sum distribution will be made as a single payment payable at the time that the first monthly annuity payment is paid to the retiree.

(e)

The amount of the lump-sum distribution will be deducted from any amount otherwise payable under Section 814.505 (Return of Excess Contributions in Other Circumstances).

(f)

The partial lump-sum option under this section may be elected only once by a member and may not be elected by a retiree. A member retiring under the proportionate retirement program under Chapter 803 (Proportionate Retirement Program) is not eligible for the partial lump-sum option.

(g)

Before a retiring member selects a partial lump-sum distribution under this section, the retirement system shall provide a written notice to the member of the amount by which the member’s annuity will be reduced because of the selection. The member shall be asked to sign a copy of or a receipt for the notice, and the retirement system shall maintain the signed copy or receipt.

(h)

The board of trustees may adopt rules for the implementation of this section and may authorize the option to be used for a death benefit annuity. This section does not apply to a disability retirement annuity.
Added by Acts 1999, 76th Leg., ch. 1541, Sec. 17, eff. Sept. 1, 1999.

Source: Section 814.1082 — Partial Lump-sum Option, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­814.­htm#814.­1082 (accessed May 18, 2024).

814.001
Types of Benefits 814.002
Benefits from Both Membership Classes 814.003
Effective Date of Retirement 814.004
When Benefits Are Payable 814.005
Waiver of Benefits 814.006
Simultaneous Death of Member and Beneficiary 814.007
Beneficiary Causing Death of Member or Annuitant 814.008
Change of Beneficiary After Retirement 814.009
Deduction from Annuity for State Employee Organization 814.010
Electronic Filing of Beneficiary Designation 814.011
Lump-sum Payments in Lieu of Annuities 814.012
Disposition of Unclaimed Beneficiary Benefits 814.0095
Charitable Deduction from Annuity 814.0096
Coordination with State Employee Charitable Campaign Policy Committee 814.101
Application for Service Retirement Benefits 814.102
Eligibility of Elected Members for Service Retirement 814.103
Service Retirement Benefits for Elected Class Service 814.104
Eligibility of Member for Service Retirement 814.105
Service Retirement Benefits for Employee Class Service 814.107
Service Retirement Benefits for Certain Peace Officers 814.108
Optional Service Retirement Benefits 814.110
Increasing Annuity Option 814.201
Application for Disability Retirement Benefits 814.202
Eligibility for Disability Retirement 814.203
Certification of Disability 814.204
Information About Occupational Disability 814.205
Disability Retirement Benefits for Elected Class Service 814.206
Disability Retirement Benefits for Employee Class Service 814.207
Disability Retirement Benefits for Certain Peace Officers 814.208
Medical Examination of Disability Retiree 814.210
Restoration of Disability Retiree to Active Service 814.211
Refund at Annuity Discontinuance 814.301
Selection of Death Benefit Plan by Member 814.302
Selection of Death Benefit Plan by Survivor of Member 814.304
Annuity for Survivor of Elected Member 814.305
Annuity for Survivor of Law Enforcement or Custodial Officer 814.401
Member Death Benefits Generally 814.402
Member Occupational Death Benefits 814.403
Return of Contributions 814.404
Assignment of Death Benefit for Funeral Services 814.501
Retiree Death Benefits Generally 814.503
Occupational Disability Retiree Death Benefits 814.504
Assignment of Death Benefit for Funeral Services 814.505
Return of Excess Contributions in Other Circumstances 814.601
Annuity Increase After Death or Retirement 814.602
Adjustment to Annuities 814.603
Supplemental Payments 814.604
Cost-of-living Adjustment 814.1005
Inapplicability of Subchapter to Cash Balance Group Members 814.1081
Change in Annuity Selection 814.1082
Partial Lump-sum Option 814.2055
Average Monthly Compensation
Green check means up to date. Up to date

Accessed:
May 18, 2024

§ 814.1082’s source at texas​.gov