34 Tex. Admin. Code § 25.152 - Eligibility, Cost, and Payment for Developmental Leave Credit
(a) A cost
statement for developmental leave may be obtained from the retirement system on
request by an eligible member after completion of the leave.
(b) To be eligible to establish developmental
leave credit, a member must:
(1) have at least
five years of service credited in the retirement system before the
developmental leave occurs;
(2)
have, at the time the required deposits for credit are paid, at least one year
of membership service credit in the retirement system following the
developmental leave; and
(3) have
at least five years of service credited in the retirement system at the time
the required deposits for the credit are paid.
(c) Credit will be granted to the member upon
receipt of the full amount of the required deposits.
(d) The cost of establishing developmental
service credit is the actuarial cost, as determined by TRS, of the additional
standard annuity retirement benefits that would be attributable to the
developmental leave service credit purchased under this section.
(e) To calculate the actuarial cost, TRS will
use the cost factors and method described in §
25.302 of this title (relating to
Calculation of Actuarial Cost).
(f)
The purchase cost described in this section assumes a lump-sum deposit will be
made. If deposits are made under an installment agreement, a non-refundable
installment fee of 9% applies.
(g)
If a member has membership service and contributions in the same school year as
the year in which the developmental leave was taken, TRS shall adjust the
actuarial cost as calculated under subsection (e) of this section
proportionately by applying a ratio, the numerator of which is the number of
TRS-covered service days rendered by the member and the denominator of which is
90 days of service required for a year of membership service credit.
Notes
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