(a) A person who receives an annuity under this subtitle may, on a form prescribed by and filed with the retirement system, authorize the retirement system to deduct from the person’s monthly annuity payment the amount of a fee for the person’s membership in a state employee organization that:
(1) is a certified eligible state employee organization under § 403.0165; or
(2) has at least 2,500 retirees as members on January 1 preceding the fiscal year for which the deduction is made.
(b) An authorization made under this section remains in effect until:
(1) the person who receives the annuity modifies or revokes the authorization; or
(2) the state employee organization fails to meet the requirements of Subsection (a).

Terms Used In Texas Government Code 814.009

  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005

(c) The retirement system shall adopt rules to administer this section.

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