| (a) Except as provided by subsection (c) of this section,
when a person who receives a cash balance or disability retirement
annuity dies, a lump-sum death benefit is payable from the retirement
annuity reserve account in the amount, if any, by which the balance
in the retiree's individual account in the employees saving account
at the time of service retirement exceeds the total of annuity payments
payable before the retiree's death.
(b) The benefit provided by subsection (a) of this
section is payable to a person designated by the retiree at the time
of retirement in a signed and witnessed document filed with the system.
If a retiree does not designate a beneficiary or if the beneficiary
does not survive the retiree, the benefit is payable to the retiree's
estate.
(c) A death benefit may not be paid under subsections
(a) and (b) of this section if the retiree selected an optional cash
balance annuity under §76.6 of this chapter.
(d) If the person designated as the beneficiary of
an optional cash balance annuity, other than one selected under §76.6(c)(3)
or §76.6(c)(4) of this chapter, predeceases the retiree, a lump-sum
death benefit is payable from the retirement annuity reserve account
in the amount, if any, by which the balance in the retiree's individual
account in the employees saving account at the time of service retirement
exceeds the sum of annuity payments payable to the retiree before
death.
(e) The benefit provided by subsection (d) of this
section is payable to the deceased retiree's estate.
(f) If a beneficiary dies while receiving an optional
cash balance annuity, other than one selected under §76.6(c)(3)
or §76.6(c)(4) of this chapter, a lump-sum death benefit is payable
from the retirement annuity reserve account in the amount, if any,
by which the balance in the retiree's individual account in the employees
saving account at the time of service retirement exceeds the sum of
annuity payments payable to the retiree and the beneficiary before
the beneficiary's death.
(g) If a beneficiary dies while receiving a cash balance
annuity selected under Tex. Gov't Code §814.302 as described
in §76.6(c)(1) of this chapter, or Tex. Gov't Code §814.304(a),
a lump-sum death benefit is payable from the retirement annuity reserve
account in the amount, if any, by which the balance in the member's
individual account in the employees saving account at the time of
death exceeds the sum of annuity payments payable to the beneficiary
before the beneficiary's death.
(h) The benefits provided by subsections (f) and (g)
of this section are payable to the deceased beneficiary's estate.
(i) A beneficiary designation that names a former spouse
as beneficiary is invalid unless the designation is made after the
date of the divorce.
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