TX HB5535

Amends Section 824.001 of the Government Code to expand the types of benefits that may be payable or deducted by the retirement system

Adds "or deducted" to the existing language describing benefits handled by the retirement system

Creates a new fourth category of benefits: "benefits approved by the board," in addition to the existing service retirement benefits, disability retirement benefits, and death benefits

Takes effect immediately if passed by two-thirds vote of both legislative chambers; otherwise takes effect September 1, 2025