Tex. Gov't Code § 814.011
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
The retirement system may elect to make a lump-sum payment to a retiree or beneficiary in lieu of annuity payments if the actuarial present value of the annuity at the time of retirement or death does not exceed $20,000. Payment of a lump sum under this section does not affect eligibility for any other program administered by the retirement system.
Tex. Gov't. Code § 814.011