| (a) Refund or Escheated Account Payable to an Estate.
For purposes of making payments in accordance with §§854.501,
and 855.603 of the Act, or required minimum distributions required
by §401(a)(9) of the Internal Revenue Code and the regulations
adopted under that provision, the system may, if no designated beneficiary
survived the decedent and no small estate affidavit has been filed
with the clerk of the court having jurisdiction and venue as provided
by Chapter 205 of the Estates Code, accept instead an affidavit meeting
the requirements of this section, sworn to by two disinterested witnesses,
by the heirs who have legal capacity, and, if the facts warrant, by
the natural guardian or next of kin of any minor or incompetent who
is also an heir.
(b) Deceased Retiree's or Annuitant's Estate. If no
designated beneficiary survived the retiree or annuitant and no small
estate affidavit has been filed with the clerk of the court having
jurisdiction and venue as provided by Chapter 205 of the Estates Code,
the system may accept an affidavit meeting the requirements of this
section, sworn to by two disinterested witnesses, by the heirs who
have legal capacity, and, if the facts warrant, by the natural guardian
or next of kin of any minor or incompetent who is also an heir, for
purposes of making any payment due to a retiree's or annuitant's estate.
(c) Any affidavit, other than a small estate affidavit,
shall include the names and addresses of the heirs and witnesses and
establish these facts:
(1) whether or not a surviving spouse of the deceased
member exists;
(2) no petition for the appointment of a personal representative
of the deceased member is pending or has been granted;
(3) 30 days have elapsed since the death of the deceased
member; and
(4) the value of the entire assets of the deceased
member's estate, excluding homestead and exempt property, does not
exceed $50,000.
(d) The affidavit shall also:
(1) include a list of the assets and liabilities of
the estate;
(2) show the facts that constitute the basis for the
right of the heirs to receive the estate; and
(3) show the fractional interests of the heirs in the
estate as a result of those facts.
(e) For purposes of this section, "heir" has the meaning
assigned by §22.015 of the Estates Code, except that the term
excludes any persons who have filed with the system a proper disclaimer
or renunciation.
(f) Acceptance of an affidavit that substantially complies
with the requirements of this section rests in the sole discretion
of the system. In accordance with §851.004 of the Act, the system,
board of trustees, director, members of an advisory committee or medical
board appointed by the board of trustees, and staff of the system
shall not be liable for payment of benefits to heirs in accordance
with an affidavit provided to the system.
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