Sec. 844.405. TRUST AS BENEFICIARY. (a) Except as limited by Subsection (b), a member or retiree may designate a trust as beneficiary for the payment of benefits from the retirement system or may designate multiple trusts as beneficiaries for the payment of benefits from the system in the same manner and with the same limitations that apply to the designation of multiple beneficiaries. If a trust is designated beneficiary, the beneficiary of the trust is considered the designated beneficiary for the purpose of determining eligibility for and the amount and duration of benefits. The trustee is entitled to exercise any rights granted a designated beneficiary to elect benefit options and name subsequent beneficiaries.
(b) Multiple trusts or a single trust having multiple beneficiaries may not receive benefits to which multiple designated beneficiaries are not eligible under this chapter.
Added by Acts 1995, 74th Leg., ch. 245, Sec. 23, eff. Sept. 1, 1995.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 49, eff. January 1, 2008.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle F - Texas County and District Retirement System
Section 844.401. Return of Accumulated Contributions
Section 844.402. Return of Excess Contributions
Section 844.404. Person Causing Death of Member or Annuitant
Section 844.405. Trust as Beneficiary
Section 844.406. Simultaneous Death of Member and Beneficiary
Section 844.407. Survivor Annuity
Section 844.408. No Surviving Spouse, Executor, or Administrator