Texas Property Code 44.001 – Definition
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Terms Used In Texas Property Code 44.001
- 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.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
In this chapter, “pension or other retirement plan” includes:
(1) an annuity, pension, or profit-sharing or stock bonus or similar plan established to provide retirement benefits for an officer or employee of a public or private employer or for a self-employed individual;
(2) an annuity, pension, or military retirement pay plan or other retirement plan administered by the United States; and
(3) an individual retirement account.