Texas Vernon’s Civil Statutes
Sec. § 10.03
Contributions and Income As Assets of Fund


All contributions paid to the fund under Sections 10.01 and 10.02 of this Act become a part of the assets of the fund. All interest and dividends on investments of the assets of the fund shall be deposited into the fund and are part of it.

(b)

The surviving spouse of an active member who, on the date of the members death, had completed five or more years of service is eligible to receive a spouses pension, payable monthly in an amount equal to 50 percent of the amount computed for a normal retirement pension but using the members compensation and service earned as of the date of death. Payment of a spouses pension continues until the death or remarriage of the spouse.

(c)

If there is not a surviving spouse, each surviving dependent child of the deceased member under the age of 18 is eligible for a dependent childs pension, payable monthly in an amount equal to 50 percent of the amount computed for a normal retirement pension, but using the members compensation and service earned as of the date of death. If there is more than one such child, the monthly amount shall be divided equally among the children at the time the amount is paid. Payment of a dependent childs pension continues until the child attains the age of 18 or until the childs death, whichever occurs first.

(d)

If a surviving spouse receiving a spouses pension dies leaving a surviving dependent child or children under the age of 18, the spouses pension shall be continued to the child or children under the terms of this section.

(e)

If a member dies while actively employed by the municipality after having completed five or more years of service with the municipality and leaves no surviving spouse or dependent children, the members beneficiaries are eligible to receive a death benefit equal to the greater of the members total accumulated contributions or $2,500.

(f)

If a member dies while actively employed by the municipality after having completed less than five years of service with the municipality, the members beneficiaries are eligible to receive a death benefit equal to the members accumulated contributions.

(g)

The total amount of death benefit payments payable under Subsection (f) of this section may not be less than the greater of $2,500 or the total amount of the members accumulated contributions. If a spouse or dependent child dies before receiving the minimum amount and is not survived by another person entitled to the death benefit, the balance of that amount is payable in a lump sum to the estate of the decedent. If the spouse remarries before receiving that amount and there are no surviving dependent children to receive payment, the balance of the death benefit is payable in a lump sum to the beneficiaries of the member.
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Last accessed
Oct. 21, 2019