Tex. Gov't Code § 864.014
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
In lieu of any annuity otherwise payable under this subtitle, the state board by rule may provide for a lump-sum payment if the board determines that a lump-sum payment is cost-efficient or is necessary for the pension system to remain actuarially sound.
Tex. Gov't. Code § 864.014