Tex. Government Code § 815.321
TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES
Texas · Texas Government Code · Status: effective
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- Citation
- Tex. Government Code § 815.321, TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/659148
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Full text
(a) When a member dies who selected or was eligible to select a death benefit plan, or whose beneficiary is eligible to receive an annuity under Section 814.302(b) or 814.304, the retirement system shall transfer:
(1) from the employees saving account to the retirement annuity reserve account, an amount equal to the member's accumulated contributions; and
(2) from the state accumulation account to the retirement annuity reserve account, an amount equal to the difference between the total reserve, at present worth reserve value, of the death benefit annuity and the amount credited to the member's individual account as of the day of the member's death.