Sec. 864.0135. OPTIONAL ANNUITY INCREASE OR SUPPLEMENTAL PAYMENTS. (a) The state board by rule may authorize a participating department to:
(1) make one or more supplemental payments to retirees and other beneficiaries of the pension system; or
(2) provide an increase in the amount of annuities paid to retirees and other beneficiaries of the pension system.
(b) A participating department that elects an option under a rule adopted under this section shall fund all increased benefits that are provided to retirees and other beneficiaries of the department under the option.
Added by Acts 2007, 80th Leg., R.S., Ch. 321 (H.B. 2400), Sec. 7, eff. September 1, 2007.
Section: Previous 864.001 864.002 864.003 864.004 864.005 864.006 864.007 864.009 864.010 864.011 864.012 864.013 864.0135 864.014 864.015 NextLast modified: September 28, 2016