The bill, H.B. No. 4534, amends provisions related to death benefits for police officers under certain retirement systems in Texas. It updates the heading of Section 6.05 to include "LUMP SUM DEATH BENEFITS" and modifies the existing language to clarify that in the event of a retired member's death, a lump sum of $10,000 will be payable to the member's beneficiary or estate, unless otherwise directed by the member. Additionally, the bill introduces a new provision stating that if a member dies as a direct result of a personal injury sustained in the line of duty, a lump sum of $1,000,000 will be payable to the surviving spouse or, if none exists, to the surviving children or estate.

Furthermore, the bill revises Section 6.08 to establish a death benefit fund, which will be used to pay the death benefits outlined in the amended Section 6.05. It specifies that contributions to this fund will be made by the city and that the fund will not be an obligation of other retirement system funds. The bill also includes provisions for the board to adjust contribution rates based on actuarial recommendations and outlines the process for repaying any transfers made to cover deficiencies in the fund. The act will take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that vote is not achieved.