34 Tex. Admin. Code § 123.9 - Post-Retirement Contributions
(a) If a
contribution that would otherwise be credited to the member's individual
account in the system is deposited after the member's effective retirement date
for services performed before the effective retirement date, the retirement
annuity shall be recalculated in accordance with this section.
(b) The following deposits shall be treated
as additional accumulated contributions for purposes of recalculating the
retirement annuity:
(1) employee
contributions attributable to compensation for services performed while a
member of the system but deposited within 2 months after the effective
retirement date of the member; and
(2) employee contributions attributable to
compensation for services performed while a member of the system but deposited
within 2 months after the death of a deceased member.
(c) A retirement annuity subject to this
section will be recalculated as of the effective retirement date by taking into
account the additional accumulated contributions and the related increases in
current service credit and matching credit. The recalculated retirement annuity
will be based on the age of the retiree (and the age of the beneficiary in the
case of a joint-and-survivor option) as of the effective retirement
date.
(d) The recalculated
retirement annuity is payable only prospectively beginning with the month
following the month in which the retirement system receives the
deposit.
Notes
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