Beginning on September 1, 2020, and on each September 1 thereafter, any lump sum payment payable to eligible survivors under Section 615.022(d), Texas Government Code, shall be adjusted annually by an amount equal to the percentage change in the Consumer Price Index for All Urban Consumers for the previous calendar year. The annual adjustment will be an amount as reported by the system's consulting actuary and approved by the executive director.

Source Note: The provisions of this §75.3 adopted to be effective September 8, 2020, 45 TexReg 6238