34 Tex. Admin. Code § 129.6 - Order Should Divide All Benefits
(a) BEFORE RETIREMENT. Under the Act, a
participant's accumulated contributions (with interest as allowed thereon under
the Act) may become payable to a participant upon terminating municipal
employment and membership in the system prior to retirement, as set forth in
the Act, §852.103, or may become payable to the participant's designee or
estate under the Act, §854.501, in the event of the participant's death
prior to retirement. A domestic relations order regarding a participant who has
not yet retired should clearly state the basis upon which any portion of such
sums should be payable to an alternate payee.
(b) AT AND AFTER RETIREMENT. Under the Act, a
service retirement benefit or a disability retirement benefit may become
payable to the participant (and, upon the participant's death, to a designee)
as set forth in the Act, §§854.101-854.105 and
§§854.405-854.411. A domestic relations order regarding a participant
should clearly state the basis upon which any portion of such retirement
benefit should be payable to an alternate payee.
(c) In the event that a domestic relations
order that is signed by the presiding judge after the effective date of this
section calls for the division of benefits on the basis of accumulated
contributions, but the order does not clearly state how interest allowed on the
accumulated contributions after the date of divorce will be divided, then the
accumulated contributions under the applicable sections of the Act from which
the alternate payee's portion of benefits will be calculated shall include
interest thereon as allowed by the plan after the date the divorce was
granted.
(d) A supplemental death
benefit may become payable under the Act, §854.603 or §854.604, upon
the death of a participant who was or had been employed by certain of the
municipalities participating in the system. That benefit is not the property of
a participant, but rather is a benefit that is paid by the system as a result
of the death of a participant. If any portion of such benefit becomes payable
to an alternate payee under the express wording of a qualified domestic
relations order, it will be so paid upon the death of the participant; however,
if the domestic relations order does not specifically provide that some portion
of that benefit is to be paid to an alternate payee, then no portion of the
supplemental death benefit shall be paid otherwise than as set forth in the
Act, §854.605.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.