§ 844.002 — COMPOSITION OF RETIREMENT ANNUITY.

Texas § 844.002

• Jurisdiction: Texas
• Code GV: Government Code

Text

Sec. 844.002. COMPOSITION OF RETIREMENT ANNUITY. (a) Each retirement annuity payable under this subtitle consists of a basic annuity and a supplemental annuity.
(b) A basic annuity is an amount payable from the subdivision accumulation fund and is actuarially determined from the sum of a member's:
(1) accumulated contributions; and
(2) current service credit.
(c) A supplemental annuity is an amount payable from the subdivision accumulation fund, subject to limitation under Section 844.008 , and is actuarially determined from the sum of:
(1) a member's allocated prior service credit; and
(2) a member's multiple matching credit.
(d) Any increase in the annuity granted by a participating subdivision is payable from the subdivision accumulation fund as part of the supplemental annuity.
(e) A separate retirement annuity is payable with respect to each subdivision from which a person retires under this subtitle or is considered to have retired.

Legislative History

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1985, 69th Leg., ch. 491, Sec. 15, eff. June 12, 1985. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 54.002 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1999, 76th Leg., ch. 427, Sec. 22, eff. Dec. 31, 1999; Acts 2001, 77th Leg., ch. 122, Sec. 21, eff. Dec. 31, 2001. Amended by: Acts 2005, 79th Leg., Ch. 506 (H.B. 633 ), Sec. 16, eff. January 1, 2006. Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587 ), Sec. 28, eff. January 1, 2008. Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463 ), Sec. 2, eff. June 1, 2015.