34 Tex. Admin. Code § 29.51 - Plan Limitations on Annual Benefits and Member Contributions
(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.
Notes
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