Texas Government Code 814.0095 – Charitable Deduction From Annuity
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(a) Except as provided by § 814.0096(c), a person who receives an annuity under this subtitle may, on a printed or electronic form filed with the retirement system, authorize the retirement system to deduct from the person’s monthly annuity payment the amount of a contribution to the state employee charitable campaign in the manner and for the same purposes for which a state employee may authorize deductions to that campaign under Subchapter I, Chapter 659.
(b) An authorization under this section must direct the board of trustees to deposit the deducted funds with the comptroller for distribution as required by § 659.132(g) in the same manner in which a state employee’s deduction is distributed.
Terms Used In Texas Government Code 814.0095
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) An authorization under this section remains in effect for the period described by § 659.137 unless the person revokes the authorization by giving notice to the board of trustees.
(d) The board of trustees may adopt rules to administer this section. Any rules adopted must be consistent with the comptroller’s rules related to the state employee charitable campaign.