Relating to types of benefits offered by the retirement system.

HB 5535 amends Texas Government Code Section 824.001 to explicitly define the types of benefits payable by state retirement systems. It adds a fourth category - “benefits approved by the board” - to the existing types: service retirement, disability retirement, and death benefits. This change gives the retirement system board authority to approve new benefit types beyond the three listed categories. The bill directly affects Texas state retirement systems and their members, clarifying the framework for benefit offerings without creating new programs. It takes effect September 1, 2025, unless approved for immediate effect by a two-thirds vote.