Texas Government Code 824.401 – Availability of Annuity
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(a) A death benefit annuity under this chapter is payable only if the decedent had, at the time of death, at least the minimum amount of service credit in the retirement system necessary for a service retirement annuity at an attained age.
(b) Multiple beneficiaries are not eligible to receive a death benefit annuity under § 824.402(a)(4) or an equivalent annuity under § 824.403.
Terms Used In Texas Government Code 824.401
- 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.
- Decedent: A deceased person.