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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The state board by rule may authorize the governing body of a participating department to:
(1) make one or more supplemental payments to its retirees and beneficiaries of the pension system; or
(2) provide an increase in the amount of annuities paid to retirees and beneficiaries of the pension system.
(a-1) The rules adopted under Subsection (a) may:
(1) include procedures for the governing body of a participating department to request the approval of the state board to make a supplemental payment or increase an annuity under the rules; and
(2) prohibit the governing body of a participating department from making a supplemental payment or increasing an annuity under the rules without approval from the state board.
(b) The governing body of a participating department that elects an option under a rule adopted under this section shall fund all increased benefits that are provided to its retirees and beneficiaries of the pension system under the option.
(c) State contributions may not be used to fund any option elected under a rule adopted under this section to make a supplemental payment or increase an annuity.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 864.0135. Optional Annuity Increase or Supplemental Payments - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-864-0135/
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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