HBA-SEB H.B. 2152 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 2152
By: King, Phil
Pensions and Investments
3/23/1999
Introduced



BACKGROUND AND PURPOSE 

The Texas County and District Retirement System (TCDRS) is the statewide
system that administers retirement, disability, and death benefits for
employees of counties and districts that elect to participate in TCDRS.
Some participants in TCDRS have financial needs that may be alleviated by
having a lump-sum of money distributed to the participant upon retirement.
H.B. 2152 allows for a partial-lump sum distribution option for an employee
who is eligible for service retirement. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Subchapter A, Chapter 844, Government Code, by adding
Section 844.009, as follows: 

Sec. 844.009.  PARTIAL LUMP-SUM DISTRIBUTION ON RETIREMENT.  Authorizes a
member of the Texas County and District Retirement System (TCDRS) who
terminates employment with all participating subdivisions to apply for a
partial-lump sum distribution. Prohibits the amount of the lump-sum
distribution from exceeding one-half of the total contributions and
accumulated interest in the member's individual account in the employees
saving fund at the time of the member's retirement.  Provides that the
lump-sum distribution will be made as a single payment, payable at the same
time as the first monthly annuity payment that is paid to the member.
Establishes that the amount of the lump-sum distribution will be deducted
from the sum used in computing the member's current service annuity.
Specifies that if payment is made under Section 844.402 (Excess
Contributions of Service Retirement), the amount of the lump-sum
distribution will be considered to be included in the payments made by
reason of the annuity. 

SECTION 2.  Effective date: September 1, 1999.

SECTION 3.  Emergency clause.