Texas Civil Practice and Remedies Code
Sec. § 103.0535
Alternative Annuity Compensation


(a)

A person entitled to compensation under Section 103.001(a) may elect to receive reduced alternative annuity payments under this section instead of standard annuity payments.

(b)

Alternative annuity payments are payable throughout the life of the claimant and are actuarially reduced from the standard annuity payments to their actuarial equivalent under the option selected under Subsection (c).

(c)

A claimant may select one of the following options, which provide that:

(1)

after the claimants death, the alternative annuity payments are payable to and throughout the life of the claimants spouse;

(2)

after the claimants death, three-fourths of the initial alternative annuity payment amount is payable to and throughout the life of the claimants spouse;

(3)

after the claimants death, one-half of the initial alternative annuity payment amount is payable to and throughout the life of the claimants spouse;

(4)

if the claimant dies before 180 monthly alternative annuity payments have been made, the remainder of the 180 payments are payable to the claimants spouse or designated beneficiary; or

(5)

if the claimant dies before 120 monthly alternative annuity payments have been made, the remainder of the 120 payments are payable to the claimants spouse or designated beneficiary.

(d)

An election under this section must be made not later than the 45th day after the date:

(1)

on which the claimant files with the comptroller the application required by Section 103.051; or

(2)

on which the claimant experiences one of the following life-changing events:

(A)

marriage or divorce of the claimant;

(B)

the addition of a dependent of the claimant; or

(C)

the death of a dependent, spouse, or beneficiary of the claimant.

(d-1)

An election under Subsection (d) must be made on a form prescribed by the comptroller that:

(1)

identifies the claimants spouse or designated beneficiary according to Section 103.0536; and

(2)

specifies the option selected under Subsection (c).

(e)

A claimant who elects to receive alternative annuity payments under this section that are payable to the claimant and the claimants spouse and survives the claimants spouse is entitled to an increase in the amount of the claimants monthly annuity payments so that the claimants monthly payments equal the monthly payments the claimant would have received had the claimant not elected to receive the alternative annuity payments. The claimant is entitled to the increased payments beginning the month after the month in which the claimants spouse dies and ending on the date of the claimants death.
Added by Acts 2015, 84th Leg., R.S., Ch. 689 (H.B. 638), Sec. 2, eff. September 1, 2015.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 621 (S.B. 1151), Sec. 1, eff. June 10, 2019.
Source
Last accessed
Dec. 11, 2019