Section 76.7 - Change In Annuity Selection(a) A person who retired and selected an optional cash balance annuity described by §76.6(c)(1), (c)(2), or (c)(5) of this chapter may change the optional annuity to a standard cash balance annuity only if: (1) pursuant to a divorce decree, a court orders the change in the annuity to a standard cash balance annuity; or(2) the retiree files with the system a request to change the annuity and, in connection with a divorce between the retiree and the beneficiary designated by the retiree under § 76.6(b) of this chapter, the beneficiary has executed a written, notarized instrument that releases the system from any claim to the annuity by the beneficiary and transfers all of the beneficiary's interest in the annuity to the retiree.(b) If a retiree complies with subsection (a) of this section, the system shall recompute the annuity as a standard cash balance annuity. The increase in the annuity under this section begins with the payment for the month following the month in which the request is filed.(c) A retiree receiving an optional cash balance annuity may change the designated beneficiary in the same manner and subject to the same limitations provided by Tex. Gov't Code § 814.008 for the change of a beneficiary after retirement.34 Tex. Admin. Code § 76.7
Adopted by Texas Register, Volume 47, Number 36, September 9, 2022, TexReg 5498, eff. 9/14/2022