Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 34. PUBLIC FINANCE |
PART 4. EMPLOYEES RETIREMENT SYSTEM OF TEXAS |
CHAPTER 74. QUALIFIED DOMESTIC RELATIONS ORDERS |
SECTION 74.11. Alternate Payments
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Optional payments for alternate payees pursuant to a qualified domestic relations order may be made as follows.
(1) In lieu of paying an alternate payee the interest awarded by a qualified domestic relations order, the system, at its sole discretion, may pay the alternate payee an amount that is the actuarial equivalent of the interest in form of: (A) an annuity in equal monthly installments for the life of the alternate payee; or (B) a lump sum. (2) If the alternate payee is paid pursuant to this section, the system shall be entitled to rely on a beneficiary designation or benefit option selection made or changed pursuant to its program provisions without regard to any domestic relations order. Source Note: The provisions of this §74.11 adopted to be effective November 23, 1989, 14 TexReg 5934.