reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.507. Plan Qualification

Sec. 815.507.  PLAN QUALIFICATION.  (a)  It is intended that the provisions of this subtitle be construed and administered in a manner that the retirement system's benefit plan will be considered a qualified plan under Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401). The board of trustees may adopt rules that modify the plan by adding, deleting, or changing a plan provision, including rules that modify benefits available under the plan.
(b)  A rule reducing a benefit provision may not be adopted unless the modification is necessary for the retirement system to be a qualified plan.
(c)  A rule adopted under this section, other than a rule adopted under Subsection (b), must be made applicable to all members and annuitants whose credit or benefits are based on similar service.  A rule adopted under this section may include the making or revocation of any election permitted under Section 401(a) or any other provision of the Internal Revenue Code of 1986 (26 U.S.C. Section 401). A rule adopted under this section must comply with Section 811.006 and Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401). Rules adopted by the board of trustees are to be considered a part of the plan and supersede conflicting portions of existing plan provisions.
(d)  In determining qualification status under Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401), the retirement system's benefit plan shall be considered the primary retirement plan for members of the retirement system.
Added by Acts 1987, 70th Leg., ch. 642, Sec. 4, eff. June 19, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.507 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 850, Sec. 28, eff. Aug. 26, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5071. Trustee-to-Trustee Transfer

Sec. 815.5071.  TRUSTEE-TO-TRUSTEE TRANSFER.  Notwithstanding Section 811.005 and to the extent required as a condition of plan qualification under Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401), the retirement system shall, in accordance with Section 401(a)(31) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401(a)(31)) and related regulations, permit the distributee of an eligible rollover distribution to elect to have the distribution paid directly to an eligible retirement plan specified by the distributee in the form of a direct trustee-to-trustee transfer.  The board of trustees may adopt rules to carry out this section.  Terms used in this section have the meanings assigned by the Internal Revenue Code of 1986 (Title 26, United States Code).
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 24, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5072. Excess Benefit Arrangement

Sec. 815.5072.  EXCESS BENEFIT ARRANGEMENT.  (a)  A separate, nonqualified, unfunded excess benefit arrangement is created outside the trust fund of the retirement system.  This excess benefit arrangement shall be administered as a governmental excess benefit arrangement under Section 415(m) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(m)).  The purpose of the excess benefit arrangement is to pay to annuitants of the retirement system benefits otherwise payable by the retirement system that exceed the limitations on benefits imposed by Section 415(b)(1)(A) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(b)(1)(A)).
(b)  The board of trustees is responsible for the administration of this arrangement.  Except as otherwise provided by this section, the board has the same rights, duties, and responsibilities concerning the excess benefit arrangement as it has to the trust fund.
(c)  Benefits under this section are exempt from execution to the same extent as provided by Section 811.005, except that the benefits are completely unassignable.  Contributions to this arrangement are not held in trust and may not be commingled with other funds of the retirement system.
(d)  An annuitant is entitled to a monthly benefit under this section in an amount equal to the amount by which the benefit otherwise payable by the retirement system has been reduced by the limitation on benefits imposed by Section 415(b)(1)(A) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(b)(1)(A)).  The benefit payable by this arrangement is payable at the times and in the form that the benefit payable under the trust fund is paid.
(e)  The benefit payable under this section shall be paid from state contributions that otherwise would be made to the trust fund under Section 815.403.  In lieu of deposit in the state accumulation account, an amount determined by the retirement system to be necessary to pay benefits under this section shall be paid monthly to the credit of a dedicated account in the general revenue fund maintained only for the excess benefit arrangement.  The account may include amounts needed to pay reasonable and necessary expenses of administering this arrangement.  The monthly amount to be paid to the credit of the account shall be transferred to the account at least 15 days before the date of a monthly disbursement under this section.
(f)  The board of trustees may adopt rules governing the excess benefit arrangement that are necessary for the efficient administration of the arrangement in compliance with Section 415(m) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(m)).
Added by Acts 1997, 75th Leg., ch. 1048, Sec. 21, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.508. Complaint Files

Sec. 815.508.  COMPLAINT FILES.  (a)  The retirement system shall keep an information file about each complaint filed with the system that the system has authority to resolve.
(b)  If a written complaint is filed with the retirement system that the system has authority to resolve, the system, at least quarterly and until final disposition of the complaint, shall notify the parties to the complaint of the status of the complaint unless the notice would jeopardize an undercover investigation.
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 25, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.509. Advisory Committees

Sec. 815.509.  ADVISORY COMMITTEES.  (a)  The board of trustees may establish advisory committees as it considers necessary to assist it in performing its duties.  Members of advisory committees established under this section serve at the pleasure of the board.
(b)  Notwithstanding any other law to the contrary, the board of trustees by rule shall determine the amount and manner of any compensation or expense reimbursement to be paid members of an advisory committee performing service for the retirement system for performing the work of the advisory committee.  All compensation and expense reimbursements for an advisory committee established under this section are payable from the expense account.
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 26, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5091. Membership on Advisory Committee on Investments

Sec. 815.5091.  MEMBERSHIP ON ADVISORY COMMITTEE ON INVESTMENTS.  (a)  The board of trustees may, under the investment duties delegated to the board by Section 67, Article XVI, Texas Constitution, establish an investment advisory committee as the board considers necessary to assist the board in its investment duties.
(b)  A person appointed to serve as a member of an advisory committee established by the board of trustees to provide advice to the board on investments and investment-related issues must be:
(1)  a person with expertise in the management of a financial institution or other business in which investment decisions are made; or
(2)  a prominent educator in the field of economics, finance, or another investment-related area.
(c)  A person appointed to serve as a member of a committee described by Subsection (b) shall assist the board of trustees in carrying out the board's fiduciary duties with regard to the investment of the assets of the retirement system and related duties under this chapter and Chapter 609.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1001 (H.B. 2193), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5092. Ineligibility for Membership on Advisory Committee on Investments

Sec. 815.5092.  INELIGIBILITY FOR MEMBERSHIP ON ADVISORY COMMITTEE ON INVESTMENTS.  (a)  A person is not eligible for appointment to an advisory committee established by the board of trustees to provide advice to the board on investments and investment-related issues if the person or the person's spouse:
(1)  is employed by or participates in the management of a business entity or other organization receiving funds from the retirement system;
(2)  owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization receiving funds from the retirement system; or
(3)  is a paid officer, employee, or consultant of a Texas trade association in the field of insurance or investment.
(b)  A person is not eligible for appointment to a committee described by Subsection (a) if the person is required to register as a lobbyist under Chapter 305 because of the person's activities for compensation on behalf of a business or an association related to the investment of the assets of this state or of the retirement system.
(c)  In this section, "Texas trade association" has the meaning assigned by Section 815.0031.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1001 (H.B. 2193), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5093. Review of and Removal From Advisory Committee on Investments

Sec. 815.5093.  REVIEW OF AND REMOVAL FROM ADVISORY COMMITTEE ON INVESTMENTS.  (a)  The board of trustees shall at least annually review the eligibility status of members serving on an advisory committee established to provide advice to the board on investments and investment-related issues.
(b)  It is a ground for removal from a committee described by Subsection (a) that a person is:
(1)  not qualified for appointment to the committee under Section 815.5091 or 815.5092;
(2)  unable to discharge the person's duties on the committee because of illness, disability, or other personal circumstances; or
(3)  absent from more than half of the scheduled meetings of the committee that the person is eligible to attend during a calendar year.
(c)  If the executive director or a member of the advisory committee has knowledge that a potential ground for removal exists, the executive director or committee member shall notify the presiding officer of the board of trustees of the potential ground for removal.
(d)  This section does not limit the power of the board of trustees to remove a person from the advisory committee under Section 815.509(a).
(e)  The board of trustees may prescribe the process for removal from a committee described by Subsection (a).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1001 (H.B. 2193), Sec. 1, eff. September 1, 2011.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.510. Annual Report

Sec. 815.510.  ANNUAL REPORT.  (a)  The Employees Retirement System of Texas shall submit a report not later than the 25th day of the month following the end of each fiscal year to the governor, the lieutenant governor, the speaker of the house of representatives, the executive director of the State Pension Review Board, the appropriate oversight committees of the house and senate, and the Legislative Budget Board.  The report shall include the following:
(1)  the current end-of-fiscal-year market value of the trust fund;
(2)  the asset allocations of the trust fund expressed in percentages of stocks, fixed income, cash, or other financial investments;  and
(3)  the investment performance of the trust fund utilizing accepted industry measurement standards.
(b)  The report required by this section is the only periodic report of investments required to be made by the retirement system other than a report required by Section 815.108 or the General Appropriations Act.
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 26, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 22, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.511. Administrative Decision; Appeal and Negotiation

Sec. 815.511.  ADMINISTRATIVE DECISION;  APPEAL AND NEGOTIATION.  (a)  A person aggrieved by a decision of the retirement system relating to any program or system administered by the system under this code denying or limiting membership, service credit, or eligibility for or the amount of benefits payable under the program or system may appeal the decision to the board of trustees.
(b)  The executive director or the executive director's designee may refer an appeal made under Subsection (a) to the State Office of Administrative Hearings for a hearing or employ, select, or contract for the services of an administrative law judge or hearing examiner not affiliated with the State Office of Administrative Hearings to conduct a hearing.  This subsection prevails over any other law to the extent of any conflict.
(c)  An appeal under this section is considered to be a contested case under Chapter 2001.  The appellant in a contested case under this section has the burden of proof on all issues, including issues in the nature of an affirmative defense.
(d)  The board of trustees may in its sole discretion make a final decision on a contested case under this section.  Notwithstanding any other law, the board of trustees may in its sole discretion modify, refuse to accept, or delete any proposed finding of fact or conclusion of law contained in a proposal for decision submitted by an administrative law judge or other hearing examiner, or make alternative findings of fact and conclusions of law, in a proceeding considered to be a contested case under Chapter 2001.  The board of trustees shall state in writing the specific reason for its determination and may adopt rules for the implementation of this subsection.  The board of trustees may delegate its authority under this subsection to the executive director, and the executive director may delegate the authority to another employee of the retirement system.
(e)  Notwithstanding Subsections (c) and (d), the retirement system and a person aggrieved by a decision of the system may at any time informally negotiate an award of benefits.  Negotiated benefits may not exceed the maximum benefits otherwise available or required by law.
(f)  A person aggrieved by a final decision of the retirement system in a contested case under this section is entitled to judicial review under Chapter 2001.  Venue of the appeal is only in a district court in Travis County.  On judicial appeal the standard of review is by substantial evidence.
Added by Acts 1995, 74th Leg., ch. 586, Sec. 29, eff. Aug. 28, 1995.  Amended by Acts 1999, 76th Leg., ch. 1541, Sec. 29, eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 1111, Sec. 29, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5111. Diligent Prosecution of Suit

Sec. 815.5111.  DILIGENT PROSECUTION OF SUIT.  The plaintiff shall prosecute with reasonable diligence any suit brought under Section 815.511(f).  If the plaintiff does not secure proper service of process or does not prosecute the suit within one year after it is filed, the court shall presume that the suit has been abandoned.  The court shall dismiss the suit on a motion for dismissal made by or on behalf of the retirement system unless the plaintiff, after receiving appropriate notice, shows good cause for the delay.
Added by Acts 2005, 79th Leg., Ch. 347 (S.B. 1176), Sec. 21, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.512. Protection From Double or Multiple Liability

Sec. 815.512.  PROTECTION FROM DOUBLE OR MULTIPLE LIABILITY.  (a)  The executive director may cause an action for interpleader concerning a claim to be filed on behalf of the retirement system in a district court in Travis County to protect the system from double or multiple liability if the executive director determines that a claim may expose the retirement system to such liability.
(b)  A person may not pursue a counterclaim or other cause of action against the retirement system, a trustee, officer, or employee of the retirement system, or a carrier or administering firm for the retirement system in connection with a transaction or occurrence related to the interpleader action.
(c)  A person who violates Subsection (b) is liable for the costs and attorney's fees incurred by the retirement system, a trustee, officer, or employee of the retirement system, or a carrier or administering firm for the retirement system as a result of the violation.
Added by Acts 1997, 75th Leg., ch. 1048, Sec. 23, eff. Sept. 1, 1997.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 24, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.513. Exclusive Remedies

Sec. 815.513.  EXCLUSIVE REMEDIES.  The remedies provided under this chapter are the exclusive remedies available to a member, retiree, beneficiary, or alternate payee.
Added by Acts 2005, 79th Leg., Ch. 347 (S.B. 1176), Sec. 21, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.514. Mailings on Behalf of Nonprofit Association

Sec. 815.514.  MAILINGS ON BEHALF OF NONPROFIT ASSOCIATION.  The retirement system may make mailings on behalf of a nonprofit association of active or retired state employees described by Section 814.009, for purposes of association membership and research only, to annuitants identified in information contained in records that are in the custody of the system.  The nonprofit association requesting a mailing shall pay the expenses of the mailing.
Added by Acts 2005, 79th Leg., Ch. 347 (S.B. 1176), Sec. 21, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.515. Disposition of Unclaimed Contributions of Former Members

Sec. 815.515.  DISPOSITION OF UNCLAIMED CONTRIBUTIONS OF FORMER MEMBERS.  (a)  Subject to Chapters 803 and 805, if the retirement system has not received a request for a refund of the accumulated contributions of a member in accordance with Subchapter B, Chapter 812, before the seventh anniversary of the member's last day of service, the retirement system may refund the accumulated contributions to the member or the member's heirs.  If the member or the member's heirs cannot be found, the member's accumulated contributions revert to the retirement system.
(b)  The retirement system shall credit any amounts that revert to the retirement system under Subsection (a) to the state accumulation account.
(c)  The board of trustees may adopt rules to implement and administer this section.
Added by Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 25, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. General Provisions › Section 820.001. Definition

Sec. 820.001.  DEFINITION.  In this chapter, "accumulated account balance" means the total of amounts in a member's individual account in the employees saving account, including:
(1)  amounts deducted from the compensation of the member;
(2)  other member deposits required to be placed in the member's individual account; and
(3)  interest credited to amounts in the member's individual account, including interest and gain sharing interest credited in accordance with Sections 820.102 and 820.103, respectively.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. General Provisions › Section 820.002. Applicability

Sec. 820.002.  APPLICABILITY.  This chapter applies only to a member of the employee or elected class of membership who:
(1)  was hired or took office on or after September 1, 2022; and
(2)  was not a member on the date the member was hired or took office.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. General Provisions › Section 820.003. Conflict of Law

Sec. 820.003.  CONFLICT OF LAW.  To the extent of a conflict between this chapter, including a rule adopted by the retirement system under authority of this chapter, and any other law, this chapter prevails.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. General Provisions › Section 820.004. Rules

Sec. 820.004.  RULES.  The board of trustees may adopt rules necessary to implement this chapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. -1. Military Service Credit › Section 820.021. Creditable Military Service

Sec. 820.021.  CREDITABLE MILITARY SERVICE.  The board of trustees shall adopt rules to comply with the Uniformed Services Employment and Reemployment Rights Act of 1994 (38 U.S.C. Section 4301 et seq.), including rules governing how a member subject to this chapter may establish military service credit under this subchapter.
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 4, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. -1. Military Service Credit › Section 820.022. State Contributions for Military Service

Sec. 820.022.  STATE CONTRIBUTIONS FOR MILITARY SERVICE.  (a)  The state shall contribute for military service established under this subchapter an amount in the same ratio to the member's contribution for the service as the state's contribution bears to the contribution for current service required of a member of the employee class who is subject to this chapter at the time the service is established under this subchapter.
(b)  The state's contribution under Subsection (a) shall be paid from the fund from which the member receives compensation at the time the service is established or, if the member does not hold a position at the time the service is established, from the fund from which the member received compensation when the member most recently held a position.
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 4, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. -2. Reestablishing Previously Canceled Service Credit › Section 820.031. Reestablishing Previously Canceled Service Credit Without Purchase

Sec. 820.031.  REESTABLISHING PREVIOUSLY CANCELED SERVICE CREDIT WITHOUT PURCHASE.  (a)  A cash balance group member who has withdrawn contributions and canceled service credit in a class of membership may reestablish the canceled service credit in the retirement system for the purposes described by Subsection (c) by submitting a request to the system in a form and manner prescribed by the system.
(b)  The retirement system shall grant the canceled service credit of a member who submits a request as provided by Subsection (a) after the system verifies that the member is a cash balance group member.
(c)  Service credit established under this section may be used only to determine whether the cash balance group member is eligible to retire and receive a cash balance annuity under this chapter. The service credit does not affect eligibility for any other purpose, including for purposes of determining eligibility to participate in the group benefits program established under Chapter 1551, Insurance Code.
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 5, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter A. -2. Reestablishing Previously Canceled Service Credit › Section 820.032. Purchase of Previously Canceled Service Credit

Sec. 820.032.  PURCHASE OF PREVIOUSLY CANCELED SERVICE CREDIT.  (a)  A cash balance group member who has withdrawn contributions and canceled service credit in a class of membership may purchase the canceled service credit in the retirement system for the purposes described by Subsection (c) by:
(1)  submitting a request to the system in a form and manner prescribed by the system; and
(2)  depositing with the retirement system in a lump sum the total amount of money withdrawn from a membership class not later than the first day of the 24th month after the month in which the person is reemployed or again holds office.
(b)  On receipt of the cash balance group member's deposit, the retirement system shall credit the member's individual account in the employees saving account with that amount and apply annual and gain sharing interest beginning the first day of the month following the date of the deposit, as provided by Sections 820.102 and 820.103.
(c)  Service credit purchased under this section may be used only:
(1)  to determine whether the cash balance group member is eligible to retire and receive a cash balance annuity; and
(2)  for purposes of determining eligibility to participate in the group benefits program established under Chapter 1551, Insurance Code.
(d)  The retirement system may charge a reasonable administrative fee to purchase service credit under this section.
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 5, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.051. Application for Cash Balance Benefit

Sec. 820.051.  APPLICATION FOR CASH BALANCE BENEFIT.  (a)  A member may apply for a cash balance annuity by filing an application for retirement with the board of trustees.
(b)  An application for a cash balance annuity may not be made:
(1)  after the date the member wishes to retire; or
(2)  more than 90 days before the date the member wishes to retire.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.052. Eligibility for Cash Balance Benefit

Sec. 820.052.  ELIGIBILITY FOR CASH BALANCE BENEFIT.  A member:
(1)  who has service credit in the employee class of membership is eligible to retire and receive a cash balance annuity if the member:
(A)  is at least 65 years old and has five years of service credit in that class; or
(B)  has at least five years of service credit in that class and the sum of the member's age and amount of service credit in that class, including months of age and credit, equals or exceeds the number 80;
(2)  who:
(A)  has at least 20 years of service credit as a law enforcement or custodial officer is eligible to retire regardless of age and receive a cash balance annuity in an amount computed and funded as provided by this subchapter; or
(B)  is at least 55 years old and has at least 10 years of service credit as a law enforcement or custodial officer is eligible to retire and receive a cash balance annuity in an amount computed and funded as provided by this subchapter, provided that the member is only entitled to the enhanced benefit described by Section 820.053(a)(2)(B) if the member has at least 20 years of service as a law enforcement or custodial officer; or
(3)  who has service credit in the elected class of membership is eligible to retire and receive a cash balance annuity if the member:
(A)  is at least 60 years old and has eight years of service credit in that class; or
(B)  is at least 50 years old and has 12 years of service credit in that class.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 6, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.053. Cash Balance Benefits for Members

Sec. 820.053.  CASH BALANCE BENEFITS FOR MEMBERS.  (a)  The state match for the cash balance benefit for:
(1)  service credited to the employee class of membership is an amount computed by multiplying the member's accumulated account balance by 150 percent;
(2)  service credited to the employee class of membership by a member eligible to retire under this chapter as a law enforcement or custodial officer is an amount computed by multiplying the member's accumulated account balance by:
(A)  except as provided by Paragraph (B), 150 percent; and
(B)  for the portion of the accumulated account balance based on the member's additional two percent contribution under Section 820.101(b), including interest, attributable to service as a law enforcement or custodial officer, 300 percent, paid from the law enforcement and custodial officer supplemental retirement fund; and
(3)  subject to Subsection (c), service credited to the elected class of membership is an amount computed by multiplying the member's accumulated account balance by 150 percent.
(b)  The retirement system shall compute a member's cash balance annuity under this section by taking the sum of the member's accumulated account balance and the state match computed under Subsection (a) and annuitizing that amount over the life expectancy of the member as of the effective date of the member's retirement using mortality and other tables adopted by the board for that purpose under Section 815.105.
(c)  For purposes of this section, a member of the elected class of membership under Section 812.002(a)(2) shall have the member's accumulated account balance computed as if the contributions to the account were based on the state base salary, excluding longevity pay payable under Section 659.0445, being paid a district judge as set by the General Appropriations Act in accordance with Section 659.012(a).
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.0536. Change in Optional Cash Balance Annuity Selection

Sec. 820.0536.  CHANGE IN OPTIONAL CASH BALANCE ANNUITY SELECTION.  (a)  A person who retired and selected an optional cash balance annuity described by Section 820.0535(c)(1), (c)(2), or (c)(5) may change the optional annuity to a standard cash balance annuity only if:
(1)  pursuant to a divorce decree, a court orders the change in the annuity to a standard cash balance annuity; or
(2)  the retiree files with the retirement system a request to change the annuity and, in connection with a divorce between the retiree and the beneficiary designated by the retiree under Section 820.0535(b), the beneficiary has executed a written, notarized instrument that:
(A)  releases the system from any claim to the annuity by the beneficiary; and
(B)  transfers all of the beneficiary's interest in the annuity to the retiree.
(b)  If a retiree files a request as provided by Subsection (a), the retirement system shall recompute the annuity as a standard cash balance annuity.  The increase in the annuity under this section begins with the monthly payment made to the retiree for the month following the month in which a request is filed as provided by Subsection (a).
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 7, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.0537. Partial Lump-Sum Cash Balance Option

Sec. 820.0537.  PARTIAL LUMP-SUM CASH BALANCE OPTION.  (a)  A member who is eligible for a cash balance annuity may select a standard cash balance annuity under Section 820.053 or an optional cash balance annuity under Section 820.0535, together with a partial lump-sum distribution.
(b)  The amount of the lump-sum distribution under this section may not exceed the sum of 36 months of a standard cash balance annuity computed without regard to this section.
(c)  The cash balance annuity selected by the member shall be actuarially reduced to reflect the lump-sum option selected by the member and shall be actuarially equivalent to a standard or optional cash balance annuity, as applicable, without the partial lump-sum distribution.  The annuity and lump sum shall be computed to result in no actuarial loss to the retirement system.
(d)  The lump-sum distribution shall be made as a single payment payable at the time that the first monthly annuity payment is paid.
(e)  The amount of the lump-sum distribution shall be deducted from any amount otherwise payable under this chapter.
(f)  The partial lump-sum option under this section may be elected only once by a member and may not be elected by a retiree.  A member retiring under the proportionate retirement program under Chapter 803 is not eligible for the partial lump-sum option.
(g)  Before a retiring member selects a partial lump-sum distribution under this section:
(1)  the retirement system shall provide written notice to the member of the amount by which the member's annuity will be reduced because of the selection; and
(2)  the member must acknowledge receipt of the notice in writing.
(h)  The board of trustees may adopt rules for the implementation of this section and may authorize the option to be used for a death benefit annuity.  This section does not apply to a disability retirement annuity.
Added by Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 7, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter B. Cash Balance Benefits › Section 820.054. Death and Disability Benefits

Sec. 820.054.  DEATH AND DISABILITY BENEFITS.  (a)  Notwithstanding any other law, a member subject to this chapter, a retiree receiving a cash balance annuity under this chapter, or the beneficiary of a member or retiree described by this subsection, who qualifies for a death or survivor benefit annuity or a disability retirement annuity under Chapter 814 is entitled to a cash balance annuity under this subchapter instead of the annuity otherwise provided under Chapter 814.
(b)  The board of trustees may enter into contracts to provide additional death and disability benefits under this chapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 8, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter C. Contributions and Interest › Section 820.101. Collection of Member Contributions

Sec. 820.101.  COLLECTION OF MEMBER CONTRIBUTIONS.  (a)  Each payroll period, each department or agency of the state shall cause to be deducted from the compensation of a member subject to this chapter a contribution of six percent of the compensation of the member.
(b)  In addition to the contribution under Subsection (a), each department or agency of the state that employs a law enforcement or custodial officer who is a member subject to this chapter shall deduct an additional two percent contribution from the member's compensation, to be deposited in the law enforcement and custodial officer supplemental retirement fund.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter C. Contributions and Interest › Section 820.102. Annual Interest Adjustment

Sec. 820.102.  ANNUAL INTEREST ADJUSTMENT.  Each fiscal year, the retirement system shall deposit for a member subject to this chapter an amount equal to four percent of the member's accumulated account balance deposited into the member's individual account in the employees saving account.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 820 - Cash Balance Benefit › Subchapter C. Contributions and Interest › Section 820.103. Gain Sharing Interest Adjustment

Sec. 820.103.  GAIN SHARING INTEREST ADJUSTMENT.  (a)  Each fiscal year and subject to Subsection (b), the retirement system shall compute the gain sharing interest rate by:
(1)  determining the average return on the investment of the system's cash and securities during the preceding five fiscal years, expressed as a percentage rate;
(2)  subtracting four percentage points from the percentage rate determined under Subdivision (1); and
(3)  multiplying the resulting difference under Subdivision (2) by 50 percent.
(b)  Subject to Subsection (c), each fiscal year, the retirement system shall:
(1)  in addition to the amount deposited under Section 820.102, deposit into each member's individual account in the employees saving account an amount equal to the gain sharing interest rate determined under Subsection (a) for the fiscal year multiplied by the member's accumulated account balance as of the end of the preceding fiscal year; and
(2)  recalculate the annuity payment of a retiree or annuitant under this chapter by:
(A)  multiplying the annuity payment amount as of the end of the preceding fiscal year by the gain sharing interest rate determined under Subsection (a); or
(B)  if the retiree or annuitant was not entitled to an annuity payment as of the end of the preceding fiscal year, multiplying the retiree's or annuitant's first annuity payment amount by the gain sharing interest rate determined under Subsection (a).
(c)  The gain sharing interest rate applied under Subsection (b) may not be less than zero or more than three percent.
(d)  Subsection (b) applies only to a retiree or annuitant who is receiving a cash balance annuity under Section 820.053 or 820.0535, including an alternate payee under Section 804.005.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 21, eff. September 1, 2021.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 78 (S.B. 729), Sec. 9, eff. May 19, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.0011. Determination of Employee or Independent Contractor Status

Sec. 821.0011.  DETERMINATION OF EMPLOYEE OR INDEPENDENT CONTRACTOR STATUS.  In determining whether an individual is an employee or independent contractor of an employer, the retirement system shall use the test applied under common law and any guidance issued by the Internal Revenue Service regarding factors to consider when determining an individual's employment status.
Added by Acts 2017, 85th Leg., R.S., Ch. 931 (S.B. 1664), Sec. 2, eff. September 1, 2017.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.002. Purpose of Subtitle

Sec. 821.002.  PURPOSE OF SUBTITLE.  The purpose of this subtitle is to establish a program of benefits for members, retirees, and other beneficiaries of the retirement system and to establish rules for membership in and the management and operation of the retirement system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 31.002 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.003. Retirement System

Sec. 821.003.  RETIREMENT SYSTEM.  The retirement system is a public entity.  Except as provided by Section 825.304, the Teacher Retirement System of Texas is the name by which all business of the retirement system shall be transacted, all its funds invested, and all its cash, securities, and other property held.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 202, ch. 18, Sec. 19, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 31.003 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2005, 79th Leg., Ch. 1359 (S.B. 1691), Sec. 7, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.004. Powers and Privileges

Sec. 821.004.  POWERS AND PRIVILEGES.  The retirement system has the powers, privileges, and immunities of a corporation, as well as the powers, privileges, and immunities conferred by this subtitle.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 31.004 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.005. Exemption From Execution

Sec. 821.005.  EXEMPTION FROM EXECUTION.  All retirement allowances, annuities, refunded contributions, optional benefits, money in the various retirement system accounts, and rights accrued or accruing under this subtitle to any person are exempt from garnishment, attachment, state and municipal taxation, sale, levy, and any other process, and are unassignable.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 31.005 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.006. Action Increasing Amortization Period

Sec. 821.006.  ACTION INCREASING AMORTIZATION PERIOD.  (a)  A rate of member or state contributions to or a rate of interest or the rate of a fee required for the establishment of credit in the retirement system may not be reduced or eliminated, a type of service may not be made creditable in the retirement system, a limit on the maximum permissible amount of a type of creditable service may not be removed or raised, a new monetary benefit payable by the retirement system may not be established, and the determination of the amount of a monetary benefit from the system may not be increased, if, as a result of the particular action, the time, as determined by an actuarial valuation, required to amortize the unfunded actuarial liabilities of the retirement system would be increased to a period that exceeds 30 years by one or more years.
(b)  If the amortization period for the unfunded actuarial liabilities of the retirement system exceeds 30 years by one or more years at the time an action described by Subsection (a) is proposed, the proposal may not be adopted if, as a result of the adoption, the amortization period would be increased, as determined by an actuarial valuation.
Added by Acts 1985, 69th Leg., ch. 228, Sec. 7, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 31.006 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle C - Teacher Retirement System of Texas › Chapter 821 - General Provisions › Subchapter A. General Provisions › Section 821.007. Control of Home Office Facilities

Sec. 821.007.  CONTROL OF HOME OFFICE FACILITIES.  The buildings comprising the home office of the retirement system are under the control and custodianship of the retirement system, but the retirement system shall:
(1)  comply with space use regulations provided by Section 2165.104;  the General Appropriations Act;  or other state law;  and
(2)  lease to other persons at fair market value all significant unused space in the buildings.
Added by Acts 1995, 74th Leg., ch. 555, Sec. 2, eff. Sept. 1, 1995.  Amended by Acts 1997, 75th Leg., ch. 165, Sec. 17.19(20), eff. Sept. 1, 1997.