Sec. 824.102. TRUST AS BENEFICIARY. (a) Except as provided by Subsection (b), a member or annuitant may designate a trust as beneficiary for the payment of benefits from the retirement system. If a trust is designated beneficiary, the beneficiary of the trust is considered the designated beneficiary for the purposes of determining eligibility for and the amount and duration of benefits. The trustee is entitled to exercise any rights to elect benefit options and name subsequent beneficiaries.
(b) A trust having more than one beneficiary may not receive benefits to which multiple designated beneficiaries are not entitled under this chapter.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 34.102 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle C - Teacher Retirement System of Texas
Section 824.101. Designation of Beneficiary
Section 824.1011. Designation of Beneficiary After Retirement
Section 824.1013. Change of Beneficiary After Retirement
Section 824.102. Trust as Beneficiary
Section 824.103. Absence of Beneficiary
Section 824.104. Failure of Beneficiary to Claim Benefits
Section 824.105. Beneficiary Causing Death of Member or Annuitant
Section 824.106. Simultaneous Death of Member and Beneficiary