Texas Civil Practice and Remedies Code

§ 103.0535 — ALTERNATIVE ANNUITY COMPENSATION

CP § 103.0535Title 5. GOVERNMENTAL LIABILITY · Ch. 103. COMPENSATION TO PERSONS WRONGFULLY IMPRISONED · Art. B. ADMINISTRATIVE PROCEEDING

Statute text

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(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 claimant's death, the alternative annuity payments are payable to and throughout the life of the claimant's spouse;

(2)after the claimant's death, three-fourths of the initial alternative annuity payment amount is payable to and throughout the life of the claimant's spouse;

(3)after the claimant's death, one-half of the initial alternative annuity payment amount is payable to and throughout the life of the claimant's spouse;

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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 621 (S.B. 1151), Sec. 1, eff. June 10, 2019.