Texas Statutes
Article VI.
Section 6.01. Service Retirement Benefits and Increases in Benefits

Sec. 6.01. SERVICE RETIREMENT BENEFITS AND INCREASES IN BENEFITS.
(a) On retirement after having reached the member's normal retirement date, members entitled thereto shall receive a service retirement benefit in the form of a life annuity (modified cash refund). Each monthly payment of the life annuity (modified cash refund) shall be equal to one-twelfth of:
(1) for a group A member, the product of 3.2 percent of a member's average final compensation multiplied by the number of months of creditable service; or
(2) for a group B member, the product of 2.5 percent of a member's average final compensation multiplied by the number of months of creditable service.
(b) An annuity shall be considered as a life annuity (modified cash refund) with the first monthly payment due at the end of the month immediately following the member's retirement date, but the amounts of these and all other benefits payable under this Act shall be subject at all times to such adjustments as may be required to ensure actuarial soundness as may be approved by the actuary and adopted by the board, except that annuities already granted may not be reduced below the base retirement amount granted at time of retirement.
(c) Repealed by Acts 2021, 87th Leg., R.S., Ch. 738 (H.B. 4368), Sec. 16, eff. September 1, 2021.
(d) Repealed by Acts 2021, 87th Leg., R.S., Ch. 738 (H.B. 4368), Sec. 16, eff. September 1, 2021.
(e) Repealed by Acts 2021, 87th Leg., R.S., Ch. 738 (H.B. 4368), Sec. 16, eff. September 1, 2021.
(f) For purposes of this section, compensation of each noneligible member taken into account under this Act may not exceed the maximum amount allowed under Section 401(a)(17) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401). The limit prescribed by this subsection does not apply to an eligible member. For purposes of this subsection, an eligible member is any individual who first became a member before January 1, 1996. For purposes of this subsection, a noneligible member is any other member.

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