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Texas Government Code - GOV'T § 814.011. Lump-sum Payments in Lieu of Annuities

Current as of January 01, 2024 | Updated by Findlaw Staff

The retirement system may elect to make a lump-sum payment to a retiree or beneficiary in lieu of annuity payments if the actuarial present value of the annuity at the time of retirement or death does not exceed $20,000. Payment of a lump sum under this section does not affect eligibility for any other program administered by the retirement system.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 814.011. Lump-sum Payments in Lieu of Annuities - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-814-011/

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