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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In this section, “program administrator” means the person who administers the uniform program under Section 1601.102, Insurance Code.
(b) An individual eligible to participate in the uniform program under Section 1601.102, Insurance Code, may authorize the retirement system to deduct the amount of the contribution and any other qualified health insurance premium from the individual's regular monthly service or disability retirement annuity payment if the individual is:
(1) eligible to receive a monthly annuity from the retirement system greater than the amount of the authorized deduction; and
(2) eligible under Section 402(l), Internal Revenue Code of 1986, or a similar law, to elect to exclude from annual gross income up to $3,000 of distributions from an eligible retirement plan used for qualified health insurance premiums.
(c) An individual may authorize the deduction described by Subsection (b) on a form provided by the program administrator. The program administrator shall coordinate the implementation of an authorization under Subsection (b) with the retirement system.
(d) After making the deductions, the retirement system shall pay to the program administrator an aggregate amount for all individuals who authorize annuity deductions under Subsection (b).
(e) If an individual no longer receives a monthly annuity greater than the amount of the authorized deduction, the retirement system:
(1) shall inform the program administrator; and
(2) is not required to make any deduction under this section for the individual.
(f) The retirement system is not required to accept an authorization for a deduction under this section if payment of qualified health insurance premiums by deduction from a retirement plan annuity is not required for an eligible retiree to elect the gross income exclusion described by Subsection (b)(2).
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 824.007. Deductions From Service or Disability Retirement Annuity - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-824-007/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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