H.B. No. 4534 introduces a new provision in the Government Code, specifically Section 810.007, which establishes a lump-sum death benefit for public safety officers, including firefighters and peace officers, who die as a direct result of a personal injury sustained in the line of duty. The bill allows the governing body of a public retirement system to create rules for this benefit, which can be up to $1,000,000 and is payable to the member's surviving spouse or, if none exists, to their surviving children or estate. The bill also stipulates that if there are multiple surviving children, the benefit must be divided equally among them.

Additionally, the governing body must ensure that the payment of this death benefit does not jeopardize the actuarial soundness of the retirement system, consulting with an actuary if necessary. If the system does not have an actuary, it may contract one for this purpose. Furthermore, if a death benefit is adopted, the governing body is required to revise the system's plan documents to maintain compliance with federal tax qualification standards. The provisions of this bill will apply only to deaths occurring on or after its effective date, which is contingent upon receiving a two-thirds vote from both houses of the legislature or will take effect on September 1, 2025.

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