Sec. 864.014. STATE BOARD AUTHORITY FOR LUMP-SUM PAYMENTS. In lieu of any annuity otherwise payable under this subtitle, the state board by rule may provide for a lump-sum payment if the board determines that a lump-sum payment is cost-efficient or is necessary for the pension system to remain actuarially sound.
Added by Acts 2005, 79th Leg., Ch. 803 (S.B. 522), Sec. 1, eff. September 1, 2005.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle H - Texas Emergency Services Retirement System
Section 864.001. Eligibility for Service Retirement Annuity
Section 864.002. Service Retirement Annuity
Section 864.004. Temporary Disability Retirement Benefits
Section 864.005. Certification and Continuance of Disability
Section 864.0051. Continuing Disability Retirement Benefits
Section 864.006. Member Service Death Benefits
Section 864.007. Member Nonservice Death Benefit
Section 864.009. Retiree Death Benefit Annuity
Section 864.011. First Payment of Retirement or Death Benefit Annuity
Section 864.012. Certain Beneficiaries
Section 864.013. Cost-of-Living Increase
Section 864.0135. Optional Annuity Increase or Supplemental Payments
Section 864.014. State Board Authority for Lump-Sum Payments
Section 864.015. Beneficiary Causing Death of Member or Retiree