(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.
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Source Note: The provisions of this §25.152 adopted to be effective September 11, 1977, 2 TexReg 3280; amended to be effective September 26, 1979, 4 TexReg 3305; amended to be effective March 12, 2003, 28 TexReg 2099; amended to be effective April 1, 2011, 36 TexReg 1837; amended to be effective September 1, 2011, 36 TexReg 5373; amended to be effective June 8, 2023, 48 TexReg 2859 |