reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 25 - MEMBERSHIP CREDIT › Subchapter P - CALCULATION OF FEES AND COSTS › Section 25.303 - Calculation of Actuarial Cost for Purchase of Compensation Credit

Current through Reg. 49, No. 28; July 12, 2024
(a) When a member
				  is purchasing TRS compensation credit for which the law requires that the
				  actuarial cost or actuarial present value be deposited and for which the method
				  in this section is referenced by another section of this title, TRS will
				  calculate the cost using the cost factors obtained from the Actuarial Cost
				  Tables adopted and the method described in this section. TRS will use the age
				  of the member and the service credit established by the member on September 1
				  of the school year in which the cost of the purchase is established.
(b) Each of the tables cross-references the
				  member's age in rows with years of credited service in columns. The
				  intersection of the participant's age and service is the cost factor that shall
				  be applied in determining the cost to purchase compensation credit. TRS will
				  calculate the cost to purchase compensation credit under this section by
				  dividing the difference between participant's final average salary before and
				  after the purchase by 1,000 and multiplying the quotient by the appropriate
				  cost factor obtained from the table. The eligibility of additional compensation
				  credit available for purchase is determined by the laws and rules applicable to
				  the type of compensation sought to be credited.
(c) For individuals whose membership was
				  established before September 1, 2007 and who have five years of service credit
				  on August 31, 2014, and maintain membership in TRS until the time of purchase,
				  the methodology described in subsection (b) of this section shall be used to
				  determine cost of additional compensation credit, but TRS shall use the factors
				  in the tables adopted as part of this subsection.
Attached Graphic
(d) For individuals whose
				  membership was established on or after September 1, 2007 and who have five
				  years of service credit on August 31, 2014, and maintain membership in TRS
				  until the time of purchase, the methodology described in subsection (b) of this
				  section shall be used to determine cost of additional compensation credit, but
				  TRS shall use the factors in the tables adopted as part of this subsection.
Attached Graphic
(e) For members who do not
				  have five years of service credit on August 31, 2014 or whose current
				  membership began after August 31, 2014, the methodology described in subsection
				  (b) of this section shall be used to determine the cost of additional
				  compensation credit, but TRS shall use the factors in the tables adopted as a
				  part of this subsection.
Attached Graphic
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.2 - Eligibility for Withdrawal of Member Contributions

Current through Reg. 49, No. 28; July 12, 2024
(a) Member contributions, including
				contributions picked-up by the employer pursuant to Government Code §
									825.409
				and contributions for the purchase or re-instatement of service credit, may not
				be withdrawn prior to the time the member terminates employment in all
				positions with a TRS-covered employer, except as otherwise provided by this
				section.
(b) A member who is
				serving as a substitute as described under §
									25.4 of
				this title (relating to Substitutes) and who is not employed in any other
				capacity with the same or another TRS-covered employer may withdraw member
				contributions.
(c) Except as
				provided in subsection (b) of this section, a member employed by a TRS-covered
				employer may not terminate TRS membership and may not withdraw member
				contributions, including when the employment is ineligible for TRS
				membership.
(d) Any withdrawal must
				be a complete withdrawal. No partial withdrawals are allowed.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.3 - False Affidavit and Ineligible Refunds

Current through Reg. 49, No. 28; July 12, 2024
A member who makes affidavit that he or she has permanently
				  terminated employment with any TRS-covered employer but who is so employed or
				  who contracts for such employment before TRS mails the refund shall not be
				  entitled to the refund.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.4 - Refunds

Current through Reg. 49, No. 28; July 12, 2024
Refunds to members who are terminating accounts will not be
				  made until required application forms have been filed and termination of the
				  member's employment is confirmed or the final deposit of the withdrawing member
				  is received and posted to his account.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.5 - Termination of Right to Benefits

Current through Reg. 49, No. 28; July 12, 2024
Withdrawal of an account terminates the right to benefits for
				  all service prior to the date of withdrawal, unless credit is reinstated as
				  provided by the retirement law. However, if a member has five years of service
				  credit on or before August 31, 2014 but terminates membership by withdrawal and
				  resumes membership on or after September 1, 2014 and reinstates the withdrawn
				  service credit, the member is subject to the provisions of Government Code
				  § 824.202(a-2), (b-2), and (d-2) and §
									29.1(e)
				  of this title (relating to Eligibility for Service
				  Retirement).
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.6 - Reinstatement of an Account

Current through Reg. 49, No. 28; July 12, 2024
(a) Except as
				provided in subsection (e) of this section, any member who has withdrawn an
				account resulting in the cancellation of service credit may reinstate this
				account and receive credit for the canceled service by meeting the following
				requirements:
(1) resume membership service
				in the retirement system or establish eligibility under Government Code,
				Chapter 803 or 805;
(2) redeposit
				the amount withdrawn for the years during which the membership was
				terminated;
(3) except as provided
				by subsections (b) and (c) of this section, pay a reinstatement fee of 8
				percent compounded annually in whole year increments from August 31st of the
				plan year in which the withdrawal occurred to the date of redeposit;
(4) reinstate all withdrawn accounts which
				resulted in the cancellation of service credit. A withdrawn account
				representing less than a creditable year of service must be reinstated only
				when it is necessary to combine the canceled service in the account with all
				other canceled service or with other eligible membership service or equivalent
				membership service performed in the same year to constitute a creditable year
				of service.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.8 - Reinstatement of Membership and Service Credit by ORP Participants

Current through Reg. 49, No. 28; July 12, 2024
(a) A person who was participating in the
				Optional Retirement Program (ORP) on September 1, 1979, was eligible to elect
				to become a member of the Teacher Retirement System of Texas (TRS) between
				September 1, 1979, and September 1, 1980. Any such election was effective on
				the first day of the month following the month in which it was received by the
				employer.
(b) ORP participants who
				elected to return to TRS membership between September 1, 1979, and September 1,
				1980, under subsection (a) of this section, are eligible to reinstate all
				previously held TRS credit, except student employment credit, under the
				provisions of this section only. Reinstatement may occur at any time after
				resumption of membership in TRS. All eligible credit must be reinstated at one
				time. If the member's account was withdrawn, the member must pay the
				accumulated contributions plus a reinstatement fee of 10% per year of the
				amount due compounded annually from the date of withdrawal to the date of
				repayment. Reinstatement fees will be credited to the state contribution
				account. Credit will be reinstated upon application by the member on a form
				prescribed by TRS and the deposit of all required payments. No credit may be
				established for service in public education while an ORP participant.
(c) Former ORP participants who return or
				have returned to TRS membership in the retirement system other than by an
				election under this section must make reinstatement under §
									27.6
				of this title (relating to Reinstatement of an Account).
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 27 - TERMINATION OF MEMBERSHIP AND REFUNDS › Section 27.10 - Forfeitures May Not Increase Benefits

Current through Reg. 49, No. 28; July 12, 2024
Forfeitures resulting from a termination of a right to
				  benefits as described in §
									27.5
				  of this title (relating to Termination of Right to Benefits) may not be used to
				  increase benefits to remaining members. This section shall not preclude an
				  increase in benefits by amendment to the benefit formula of the plan made
				  possible by favorable investment results or for any other
				  reason.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.1 - Eligibility for Service Retirement

Current through Reg. 49, No. 28; July 12, 2024
(a) The
				  provisions of subsections (a-1) and (b-1) of § 824.202, Texas Government
				  Code, apply only to a person who becomes a member of the retirement system on
				  or after September 1, 2007 and before September 1, 2014 and who has at least
				  five years of service credit in TRS on or before August 31, 2014 and maintains
				  that service credit in TRS until retirement.
(b) A member who met at least one of the
				  requirements of §
										51.12(a)
				  of this title (relating to Applicability of Certain Laws in Effect Before
				  September 1, 2005) on or before August 31, 2005, while a member of the Teacher
				  Retirement System before termination of membership through withdrawal of member
				  contributions or absence from service shall be considered as continuing to be
				  eligible to be governed by provisions of state law as described under §
										51.12(a)
				  of this title upon resumption of membership on or after September 1,
				  2007.
(c) A person who was a member
				  of the retirement system before September 1, 2007, but who terminates
				  membership through withdrawal of accumulated contributions, then resumes
				  membership on or after September 1, 2007 and before September 1, 2014 and who
				  has at least five years of service credit in TRS on or before August 31, 2014
				  and maintains that service credit in TRS until retirement, is subject to the
				  provisions of subsections (a-1), (b-1), and (d-1) of § 824.202, Texas
				  Government Code, regardless of whether the withdrawn service credit is
				  reinstated.
(d) The eligibility for
				  service retirement of a member who terminates membership due to absence from
				  service without withdrawal of contributions and reactivates the account under
				  § 823.501(f), Texas Government Code, on or after September 1, 2007, shall
				  be determined based on the earliest date of service associated with the
				  account.
(e) A member who does not
				  have at least five years of service credit in TRS on or before August 31, 2014
				  is eligible for retirement under the provisions of §824.202 (a-2), (b-2),
				  and (d-2), Texas Government Code. A member who has at least five years of
				  service credit in TRS on or before August 31, 2014 but terminates membership in
				  TRS by withdrawal of accumulated contributions after August 31, 2014 and later
				  resumes membership in TRS on or after September 1, 2014 is also subject to
				  §824.202 (a-2), (b-2), and (d-2), Texas Government Code, regardless of
				  whether the withdrawn service credit is reinstated.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.4 - Actual Compensation

Current through Reg. 49, No. 28; July 12, 2024
(a) Actual
				  compensation paid to a member is used in computing the highest five-years'
				  average compensation. The computation of average compensation for members with
				  credit transferred from the Employees Retirement System of Texas ("ERS") may
				  not include compensation for any month which was credited or should have been
				  credited by the ERS if the member received compensation for service the same
				  month covered by the Teacher Retirement System of Texas.
(b) A member eligible under §
										51.12
				  of this title (relating to Applicability of Certain Laws in Effect Before
				  September 1, 2005) is eligible for computation of average compensation using a
				  three-year salary average instead of a five-year salary average, as provided by
				  §
										824.203(a),
				  Government Code, prior to its amendment effective September 1, 2005, by Senate
				  Bill 1691, 79th Legislature, Regular Session (2005).
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.5 - Computation of Retirement Benefits

Current through Reg. 49, No. 28; July 12, 2024
Computation of retirement benefits will be based upon
					 attained age on the effective date of retirement.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.7 - Completion of Retirement Application Process

Current through Reg. 49, No. 28; July 12, 2024
An application for service or disability retirement is void
					 if the member does not complete the application process as prescribed by the
					 retirement system, including the submission of all required forms and
					 information, within 12 months from the date that would be the effective date of
					 retirement as specified in Government Code §
										824.002(a),
					 if the retirement process were completed. An eligible member may submit a new
					 application with a new effective date of retirement, but benefits are not
					 payable for the months in which the previous application was pending but
					 incomplete.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.9 - Survivor Benefits

Current through Reg. 49, No. 28; July 12, 2024
In addition to any of these retirement annuity payments,
					 the designated beneficiary of any retired member is eligible to receive
					 survivor benefits as stated in Government Code §
										824.501. When
					 multiple beneficiaries are named and two or more beneficiaries are eligible for
					 monthly payments, the monthly payment will be split in equal portions. When
					 only one beneficiary named is eligible for monthly payments, the entire monthly
					 payment will be made to that beneficiary.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.10 - Retirement under Options 3 and 4

Current through Reg. 49, No. 28; July 12, 2024
Retirees who selected Options 3 and 4 who return to
					 employment by a TRS covered employer and forfeit their annuities during the
					 period of employment, which exceeds the period permitted by law do not thereby
					 increase the length of the period for which payments are
					 guaranteed.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.11 - Actuarial Tables

Current through Reg. 49, No. 28; July 12, 2024
(a) Actuarial tables
				  furnished by the TRS actuary of record will be used for computation of
				  benefits. Factors for ages or types of annuities not included in the tables
				  will be computed from the same data by the same general formulas.
(b) The Teacher Retirement System adopts the
				  actuary's early age reduction factors. The factor tables are as follows:
Attached Graphic
(c) The Teacher Retirement
				  System adopts the actuary's factors for service retirement options. The factor
				  tables are as follows:
Attached Graphic
(d) The Teacher Retirement
				  System adopts the actuary's factors for disabled member retirement options. The
				  factor tables are as follows:
Attached Graphic
(e) The Teacher Retirement
				  System adopts the actuary's reserve transfer factors. The reserve transfer
				  factor tables are as follows:
Attached Graphic
(f) The board of trustees
				  may change the tables or adopt new tables from time to time by amending this
				  section; provided, however, that any such change does not result in any retiree
				  or member eligible for service retirement with an unreduced annuity as of the
				  date of the change receiving a smaller benefit than the benefit computed
				  immediately before the change.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.12 - Early Age Retirement Benefit Calculated on Law in Effect Before September 1, 2005

Current through Reg. 49, No. 28; July 12, 2024
(a) If a member
				  eligible under §
										51.12
				  of this title (relating to Applicability of Certain Laws in Effect Before
				  September 1, 2005) is at least 55 years old and has at least 20 years of
				  service credit in the retirement system, the member is eligible to retire and
				  receive a service retirement annuity reduced from the standard service
				  retirement annuity available under §
										824.202(a)(2),
				  Government Code, to a percentage derived from the following table, as provided
				  by §
										824.202(c),
				  Government Code, prior to its repeal effective September 1, 2005, by Senate
				  Bill 1691, 79th Legislature, Regular Session (2005):
Attached
					 Graphic
(b)
				  Actuarial tables adopted under §
										29.11
				  of this title for early age retirement reduction factors using age in years and
				  months derived from the table in subsection (a) of this section using age in
				  whole years remain in effect for retirement after September 1, 2005 for members
				  eligible under §
										51.12
				  of this title.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.13 - Changing Beneficiary for Survivor Benefits and Changing Retirement Plans

Current through Reg. 49, No. 28; July 12, 2024
(a) A retiree may change the designation of
				  beneficiary for survivor benefits at any time.
(b) A retiree who retired before June 26,
				  2015 and is receiving a standard service or disability retirement annuity under
				  Government Code, §
										824.203
				  or §
										824.304(b),
				  who was not permitted to name a same-sex spouse as the beneficiary of an
				  optional annuity at retirement because of the Internal Revenue Code restriction
				  on adjusted minimum age difference between the retiree and the beneficiary, or
				  who married after retirement but before June 26, 2015 and was not permitted to
				  name the retiree's same-sex spouse as the beneficiary of an optional annuity
				  under Government Code, §
										824.1011,
				  may no later than December 31, 2017 replace the standard annuity under
				  §824.1011 and select an optional annuity under Government Code, §
										824.204(c)(1),
				  (c)(2), or (c)(5), or under Government Code,
				  §
										824.308(c)(1),
				  (c)(2), or (c)(5), on a form prescribed by
				  TRS and designate the retiree's spouse as the beneficiary as if the retiree had
				  married after retirement. The selection of the optional annuity and the
				  designation of the beneficiary of the optional annuity do not take effect until
				  the first annuity payment that becomes due two years after the date the
				  selection and designation are received by TRS.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.14 - Eligibility for Retirement at the End of May

Current through Reg. 49, No. 28; July 12, 2024
For retirement effective for May only, any member who
					 completes all service for a TRS covered employer by the 15th of June,
					 terminates all employment in public education in Texas by the 15th of June, and
					 satisfies all other requirements for retirement before the 31st of May shall be
					 eligible for retirement on the last day of May. In other circumstances, the
					 retirement date shall be the last day of the month in which the member is last
					 employed and satisfies all conditions for retirement. No member who has
					 accumulated 12 months of service in the final year before retirement may use
					 this rule to add compensation for any additional period of service to his
					 annual compensation.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.15 - Termination of Employment

Current through Reg. 49, No. 28; July 12, 2024
(a) Employment in
				  any position, including as a substitute, by a TRS-covered employer, regardless
				  of compensation, during the first month following a person's effective date of
				  retirement, or during the first two months following a person's effective date
				  of retirement if the retirement was established by using §
										824.002(d),
				  Government Code, revokes the retirement and requires a return of any benefits
				  received under retirement.
(b) A
				  member who is eligible for normal age retirement and who has a contract or
				  agreement for future employment that does not qualify for one of the exceptions
				  in §
										824.602, Government
				  Code, has not ended all employment with a TRS covered employer and may not
				  retire and receive any benefits. Contracts or work agreements for employment
				  that do not qualify for one of the exceptions in that section must be
				  negotiated after the break in service required in §
										824.005,
				  Government Code.
(c) A member who
				  is eligible for early age retirement may not have a contract or promise of
				  future employment with any TRS covered employer until after the required break
				  in service referenced in subsection (a) of this section. A person who enters
				  into such an agreement has not ended all employment with a TRS covered employer
				  and may not retire and receive any benefits.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.16 - Unpaid Benefits

Current through Reg. 49, No. 28; July 12, 2024
(a) If the Teacher
				  Retirement System of Texas (TRS) determines that amounts payable to an
				  annuitant were not received by the annuitant before the annuitant's death, TRS
				  may pay the amounts to the annuitant's designated beneficiary for benefits
				  payable under the Government Code, §
										824.501. Before
				  paying the designated beneficiary, TRS shall make the following determinations:
(1) the amount payable is no greater than
				  $20,000;
(2) the designated
				  beneficiary has survived the annuitant; and
(3) TRS has received no notice of a probate
				  or similar proceeding in which payment could be made to the annuitant's
				  estate.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.21 - Beneficiary Tables

Current through Reg. 49, No. 28; July 12, 2024
Tables for Unisex Joint Beneficiary Life furnished by the
					 TRS actuary of record (actuary) will be used in calculating a life expectancy
					 under §
										824.1013 of the
					 Government Code. A fraction of a year shall be converted to whole months with
					 any partial month being rounded upward to a full month. Life expectancy shall
					 be determined as of the date of the retirement in question and the age of the
					 original beneficiary at that time. The Teacher Retirement System of Texas
					 adopts the actuary's Tables for Unisex Joint Beneficiary Life.
Attached Graphic
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.22 - Approval of Disability Retirements

Current through Reg. 49, No. 28; July 12, 2024
The executive director is authorized to approve disability
					 retirements after they have been approved by a majority of the medical
					 board.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.23 - Disability Retirement with Less Than 10 Years of Creditable Service

Current through Reg. 49, No. 28; July 12, 2024
A member with less than 10 years of creditable service who
					 is approved for disability benefits shall be entitled to receive disability
					 payments for a full school year for each year of creditable service plus the
					 exact number of months of employment in any school year in which he did not
					 render a creditable year of service. Full payment will be made for service of
					 one-half month or more and no payment for service of less than a half
					 month.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.24 - Purchase of Credit

Current through Reg. 49, No. 28; July 12, 2024
Members who are notified of their approval for disability
					 benefits shall have 30 days from the date of the letter notifying them of their
					 approval in which to purchase credit for withdrawn or any other applicable
					 special service credit.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter A - RETIREMENT › Section 29.26 - Discontinuance of Disability Benefits

Current through Reg. 49, No. 28; July 12, 2024
(a) A
				  disability retiree who is restored to active service shall immediately have
				  benefits discontinued and the retiree shall again become a member of the
				  retirement system. TRS shall notify the member in writing when benefits are
				  discontinued.
(b) A disability
				  retiree is restored to active service in one of the following ways:
(1) by certification of the medical board as
				  provided in Government Code §
											824.307(a);
(2) by notifying TRS in writing of the
				  retiree's intention to return to active service and actually returning to a
				  position eligible for TRS membership;
(3) by working longer than allowed under the
				  one-time trial period allowed in Government Code §
											824.602(g);
				  or
(4) by refusing to submit to a
				  required medical examination or provide documents relating to a required
				  examination for more than one year.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter B - DEATH BEFORE RETIREMENT › Section 29.33 - Absence from Service

Current through Reg. 49, No. 28; July 12, 2024
(a) If a member is
				  absent from service at the time of death and the absence does not meet the
				  description in §
										824.403
				  of the Government Code, the beneficiary is eligible to receive only the
				  accumulated deposits of the member. For this purpose, absence from service
				  begins September 1 following the last eligible reported membership
				  service.
(b) Eligibility for
				  receipt of death benefits authorized by Government Code §
										824.402
				  shall be determined by TRS staff.
(c) For purposes of this section, absent from
				  service means that the member was not an employee of a TRS-covered employer
				  during the school year in which the member died.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter B - DEATH BEFORE RETIREMENT › Section 29.34 - Events Affecting Payment

Current through Reg. 49, No. 28; July 12, 2024
(a) A person who
				  lives any part of a day shall be considered to live throughout the entire day.
				  Subject to this limitation, the effective date for death and survivor benefit
				  annuities is the last day of the month preceding the month in which the death
				  of the member occurs, with the first payment due at the end of the month in
				  which the death occurs.
(b) Final
				  payment of any annuity will be made at the end of the month in which there
				  occurs the event which terminates the annuity.
(c) An eligible member who has applied for
				  service or disability retirement and dies on or after the retirement date will
				  be considered to be "retired" for the computation of death or survivor
				  benefits.
(d) Payments of death
				  benefits to multiple beneficiaries named to "share and share alike" will be
				  made according to the recommendations of the consulting actuary retained by the
				  retirement system. Survivor benefits are an alternative to death benefits.
(1) If one or more joint beneficiaries are
				  eligible and elect to receive monthly survivor benefits but one or more joint
				  beneficiaries elect to receive death benefits, the payments to all
				  beneficiaries, including the monthly portion of survivor benefits, will be
				  proportionately reduced to the beneficiary's proportionate interest in the
				  benefits payable.
(2) If all joint
				  beneficiaries elect payment of survivor benefits, the lump-sum portion of the
				  benefits shall be divided equally among the beneficiaries, but the monthly
				  payment may be paid only to beneficiaries eligible to receive such payment. If
				  there are two or more beneficiaries eligible for monthly survivor payments, the
				  entire monthly payment authorized by law will be split in equal portions among
				  the eligible beneficiaries. When only one named beneficiary is eligible for
				  monthly payments, the entire monthly payment authorized by law will be made to
				  that beneficiary.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter D - PLAN LIMITATIONS › Section 29.50 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in the sections
					 under this subchapter, shall have the following meanings, unless the context
					 clearly indicates otherwise.
(1)
				  Annual additions--The sum of the following amounts credited to a member's
				  account under any defined contribution plan (or a portion of a defined benefit
				  plan treated as a defined contribution plan) maintained by the employer for the
				  plan year:
(A) employer
				  contributions;
(B) member
				  contributions, including member contributions to a qualified defined benefit
				  plan that have not been picked up under §414(h) of the Internal Revenue
				  Code of 1986 but not including rollover contributions;
(C) forfeitures; and
(D) amounts allocated after March 31, 1984,
				  to an individual medical benefit account, as defined in §415(1)(2) of the
				  Internal Revenue Code, that is part of a pension or annuity plan maintained by
				  the employer. Annual additions do not include amounts described in
				  §415(1)(2) of that code for the purpose of computing the percentage
				  limitation described in §415(c)(1)(B) of that code. For any plan year
				  beginning before January 1, 1987, only that portion of the member contributions
				  equal to the lesser of those member contributions in excess of 6.0% of annual
				  compensation or one-half of the member's contributions to any qualified plan
				  maintained by the employer is treated as annual additions.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter D - PLAN LIMITATIONS › Section 29.51 - Plan Limitations on Annual Benefits and Member Contributions

Current through Reg. 49, No. 28; July 12, 2024
(a) Effective as of July 1, 1989, and
				  notwithstanding any other plan provision in statute or rule, member
				  contributions paid to, and annual benefits paid from, TRS may not exceed the
				  annual limits on contributions and benefits, respectively, allowed by §415
				  of the Internal Revenue Code.
(b)
				  Benefits provided to a member under this plan and under any other defined
				  benefit plan or plans maintained by the member's employer under this plan shall
				  be aggregated for purposes of determining whether the limitations in subsection
				  (a) of this section are met. Annual additions with respect to a member under
				  this plan and under any other defined contribution plan maintained by the
				  member's employer under this plan shall be aggregated for purposes of
				  determining whether the limitations of subsection (a) of this section are met.
				  If the aggregate benefits otherwise payable to any member from this plan and
				  any other defined benefit plan or plans maintained by the employer would
				  otherwise exceed the limitations of subsection (a) of this section, reductions
				  in benefits and contributions are required to be made to the other plan to the
				  extent necessary to enable each plan or plans to satisfy those
				  limitations.
(c) A repayment of
				  contributions, including interest, and payment of applicable reinstatement fees
				  to the retirement system with respect to an amount previously refunded upon a
				  cancellation of service credit under the retirement system shall not be taken
				  into account for purposes of §415 of the Internal Revenue Code, in
				  accordance with applicable Treasury regulations.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter D - PLAN LIMITATIONS › Section 29.52 - Adjustment to Annual Benefit Limit

Current through Reg. 49, No. 28; July 12, 2024
(a) Before
				  July 1, 1995, a member may not receive an annual benefit that exceeds the
				  dollar amount and salary limits specified in §415(b) of the Internal
				  Revenue Code, subject to the applicable adjustments in that section. On or
				  after July 1, 1995, a member may not receive an annual benefit that exceeds the
				  dollar amount specified in §415(b)(1)(A) of that code, subject to the
				  applicable adjustments in §415(b) of that code.
(1) If the annual benefit begins before the
				  member attains age 62, the Internal Revenue Code §415(b)(1)(A) limitation,
				  as adjusted, shall be reduced in a manner prescribed by the U.S. secretary of
				  the treasury pursuant to the provisions of §415 of the Internal Revenue
				  Code, so that such limit (as so reduced) equals an annual straight life benefit
				  (when such retirement income benefit begins) which is equivalent to a $160,000
				  (as adjusted) annual benefit beginning at age 62.
(2) The portion of a member's benefit that is
				  attributable to the member's own contributions (other than picked-up
				  contributions) is not part of the annual benefit subject to the limitations of
				  this section. Instead, the amount of those member contributions is treated as
				  an annual addition to a qualified defined contribution plan maintained by the
				  employer.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter D - PLAN LIMITATIONS › Section 29.55 - Limitation on Contributions

Current through Reg. 49, No. 28; July 12, 2024
(a)
				  Notwithstanding any other provision of law to the contrary, and in accordance
				  with §
										823.006,
				  Government Code, this rule describes application of the federal limits on
				  service purchases. TRS may refuse a request by a member to make a contribution
				  to the retirement system for the purchase of service credit if the amount of
				  the contribution would exceed the limits provided in §415 of the Internal
				  Revenue Code.
(b) A member may use
				  an installment payment plan to the extent permitted under applicable law to
				  avoid making a contribution in excess of the limits under §415(c) or
				  §415(n) of the Internal Revenue Code.
(c) Effective for permissive service credit
				  contributions made in limitation years beginning after December 31, 1997, if a
				  member makes one or more contributions to purchase permissive service credit
				  under TRS, then the requirements of §415 of the Internal Revenue Code will
				  be treated as met only if:
(1) the
				  requirements of §415(b) of the Internal Revenue Code are met, determined
				  by treating the accrued benefit derived from all such contributions as an
				  annual benefit for purposes of §415(b) of that code; or
(2) the requirements of §415(c) of the
				  Internal Revenue Code are met, determined by treating all such contributions as
				  annual additions for purposes of §415(c) of that code.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter D - PLAN LIMITATIONS › Section 29.56 - Minimum Distribution Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a)
				  General Rules and Definitions.
(1) Intent.
				  This rule is intended to comply with a reasonable good faith interpretation of
				  the requirements of
				  26 U.S.C.
				  §401(a)(9).
(2) Plan Qualification and §401(a)(9)
				  compliance. Pursuant to Tex. Gov't Code §
											825.506(a) and
				  (c), this section modifies the TRS retirement
				  plan to the extent necessary for the plan to be a qualified plan and comply
				  with
				  26 U.S.C.
				  §401(a)(9) and prevails
				  over any inconsistent provision of the plan.
(3) Requirements of Treasury Regulations
				  Incorporated. All distributions required under this section will be determined
				  in accordance with 26 C.F.R.
				  §§1.401(a)(9)-1
				  through 1.401(a)(9)-9 of
				  the Internal Revenue Service, U.S. Department of Treasury
				  regulations.
(4) Definition of
				  Participant. In this section, a TRS member or TRS retiree.
(5) Definition of Designated Beneficiary. The
				  individual who is designated as the beneficiary under applicable plan
				  provisions and who is the designated beneficiary under
				  26 U.S.C.
				  §401(a)(9) and §
											1.401(a)(9)-1,
				  Q&A-4, of the Treasury regulations.
(6) Definition of Distribution Calendar Year.
				  A calendar year for which a minimum distribution is required. For distributions
				  beginning before a participant's death, the first distribution calendar year is
				  the calendar year immediately preceding the calendar year that contains the
				  participant's required beginning date. For distributions beginning after a
				  participant's death, the first distribution calendar year is the calendar year
				  in which distributions are required to begin pursuant to subsection (b)(2) of
				  this section.
(7) Definition of
				  Life Expectancy. For purposes of this rule, life expectancy means life
				  expectancy as computed by use of the Single Life Table in §1.401(a)(9)-9
				  of the Treasury regulations.
(8)
				  Definition of Required Beginning Date. The date specified in subsection (b)(1)
				  of this section.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter E - DEFERRED RETIREMENT OPTION PLAN › Section 29.61 - Distribution

Current through Reg. 49, No. 28; July 12, 2024
(a) When a member who has participated in the
				  Deferred Retirement Option Plan (DROP) retires, the system shall distribute the
				  accumulated amount in the member's DROP account in one of the following
				  manners:
(1) in a lump sum;
(2) in yearly or monthly increments over a
				  five-year period;
(3) in yearly or
				  monthly increments over a ten-year period; or
(4) a roll-over as authorized by
				  law.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter E - DEFERRED RETIREMENT OPTION PLAN › Section 29.62 - Unemployment during Deferred Retirement Option Plan

Current through Reg. 49, No. 28; July 12, 2024
When a participant in the Deferred Retirement Option Plan
					 (DROP) is not an employee for whatever reason, the participant may continue to
					 participate in DROP. Deposits to DROP will continue to be made on the part of
					 the plan to the person's DROP account during any period of continued
					 participation. Interest will continue to be credited during all periods until
					 final distribution by the plan. Periods of unemployment do not extend the
					 period of participation originally elected.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter E - DEFERRED RETIREMENT OPTION PLAN › Section 29.63 - Deadline for Purchase of Special Service Credit

Current through Reg. 49, No. 28; July 12, 2024
(a) Except as provided in subsection (b) of
				  this section, a member who elects to participate in the Deferred Retirement
				  Option Plan (DROP) but also desires to purchase special service credit must
				  purchase all special service credit eligible for purchase on or before the
				  effective date of the member's DROP participation. Special service credit that
				  a member would otherwise become eligible to purchase during DROP participation
				  may not be purchased after the effective date of DROP participation. Also, an
				  election to participate in DROP disqualifies any state personal or sick leave
				  accumulated at the time of the effective date of the member's DROP
				  participation as well as such leave accumulated during participation in DROP
				  from being used in calculating the number of days or hours required to purchase
				  state personal or sick leave at the time of actual retirement.
(b) A member participating in DROP on
				  September 1, 2001, was permitted to elect, before December 31, 2001, to
				  discontinue participation in DROP on a form prescribed by and filed with TRS.
				  Additionally, a member participating in DROP on September 1, 2005, or whose
				  period of participation in the plan expired on or before September 1, 2005, but
				  who has not retired on or before that date may, before December 31, 2005, elect
				  to discontinue participation in DROP on a form prescribed by and filed with
				  TRS. If a member discontinued participation in DROP as described in this
				  subsection, this rule shall not be deemed to bar the member from purchasing
				  special service credit for which the requirements have been earned or met
				  before or during the member's participation in DROP.
(c) A member who completes the period of
				  participation in DROP and who returns to employment with a TRS-covered employer
				  without having retired may purchase prior to retirement any special service
				  credit for which the member is eligible and for which the requirements have
				  been earned or met entirely after the member's participation in DROP.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter F - PARTIAL LUMP-SUM PAYMENT › Section 29.70 - Distribution

Current through Reg. 49, No. 28; July 12, 2024
(a) The election of the partial lump-sum
				  option, including the selection of the amount of the lump-sum distribution, or
				  an application for retirement without an election of the partial lump-sum
				  option under §
										824.2045,
				  Government Code, may not be changed after the later of the date on which the
				  retirement system makes the first annuity payment or the date the first payment
				  becomes due. The partial lump-sum option payment shall be made at the same time
				  as the initial retirement annuity payment is made. For those retirees selecting
				  two or three annual lump-sum payments, the second and third payment shall be
				  made on the appropriate anniversary date of the due date of the initial
				  lump-sum payment. No interest will be paid on any lump-sum amounts paid in the
				  second year, third year, or at any other time.
(b) A retiree who selected two or three
				  annual lump-sum payments may receive all remaining money due at any time they
				  elect in writing to do so.
(c) A
				  retiree will be permitted to roll-over any amounts as authorized by
				  law.
(d) In the event a retiree
				  dies prior to receiving all payments due from the partial lump-sum option plan,
				  the retirement system will pay any partial lump-sum benefits due in a single
				  lump sum payment to the beneficiary eligible to receive the retirement benefits
				  except in the circumstances where subsection (e) of this section applies. If
				  there is no beneficiary designated under subsection (e) of this section and
				  there is no beneficiary eligible to receive the retirement benefits, the
				  retirement system will pay any partial lump-sum benefits due in a single lump
				  sum payment to the beneficiary eligible to receive any death and survivor
				  benefits.
(e) A retiree has the
				  option of designating a beneficiary specifically for any unpaid lump-sum
				  payments due under this section upon the death of the retiree. Any such
				  designation must be done on a form prescribed by and filed with the retirement
				  system. The designation would be superior to subsection (d) of this section and
				  would control the payment of a single lump sum payment of any money due upon
				  the death of the retiree under the partial lump-sum option plan. In the event
				  that the designated beneficiary named under this subsection dies prior to
				  distribution, TRS will pay the lump sum benefit under subsection (d) of this
				  section.
Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS › Chapter 29 - BENEFITS › Subchapter F - PARTIAL LUMP-SUM PAYMENT › Section 29.71 - Tables

Current through Reg. 49, No. 28; July 12, 2024
(a) Any eligible
				  retiree who selects a partial lump-sum option will receive an actuarially
				  reduced annuity to reflect the selection of the lump-sum option. TRS will use
				  Factor Tables for Partial Lump-Sum Option Payments furnished by the TRS actuary
				  of record.
Attached Graphic
(b) The member's age in
				  whole years will be used from column one and the percentage of standard annuity
				  factor from column three, four, or five depending on the number of months of
				  lump-sum selected, will be used to determine the percentage of standard annuity
				  that will be paid to a person who elects to participate in the partial lump-sum
				  option plan.