Texas Government Code 814.205 – Disability Retirement Benefits for Elected Class Service
Current as of: 2024 | Check for updates
|
Other versions
(a) Except as provided by Subsection (b), a disability retirement annuity for service credited in the elected class of membership is an amount computed in the same manner as the standard service retirement annuity, not reduced because of age, for service credited in the elected class.
(b) An occupational disability retirement annuity for service credited in the elected class is computed on the basis of the amount of the member’s service credit or eight years, whichever is greater.
Terms Used In Texas Government Code 814.205
- 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.
- 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) A person who retires under this section may select an optional retirement plan instead of the standard retirement annuity.