Texas § 815.321 TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES.

Texas Statutes

§ 815.321 — TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES.

Texas § 815.321

Code GVGovernment Code

This text of Texas § 815.321 (TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 815.321 (2026).

Text

Sec. 815.321. TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES.

(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.

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Sec. 815.321. TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES. (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.

Legislative History

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.317 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.