Texas Insurance Code 1551.3196 – Amount of Contribution for Certain Annuitants
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(a) An annuitant receives the benefits of a state contribution for coverage under this chapter based on the annuitant’s eligible service credit, as follows:
(1) for an annuitant with 20 years or more of eligible service credit, a full state contribution;
(2) for an annuitant with at least 15 years but less than 20 years of eligible service credit, 75 percent of a full state contribution; and
(3) for an annuitant with less than 15 years of eligible service credit, 50 percent of a full state contribution.
(b) An annuitant receiving a reduced state contribution under Subsection (a) shall have any state contribution for dependent coverage reduced in an amount proportional to the reduction under Subsection (a).
Terms Used In Texas Insurance Code 1551.3196
- 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.
- Dependent: A person dependent for support upon another.
(c) This section does not apply to an individual who:
(1) receives or is eligible to receive an annuity that is based on eligibility under § 814.002, 814.102, 834.101, 839.101, or 840A.052, Government Code; or
(2) is eligible to participate in the group benefits program under:
(A) § 1551.102(d) because of a disability; or
(B) § 1551.102(f).