| (a) An eligible member may purchase one year of service
credit in the Teacher Retirement System of Texas ("TRS") for accumulated
state personal or sick leave in accordance with Government Code §823.403
and subject to approval of TRS.
(b) A member is eligible to purchase one year of service
credit if the member has at least ten years of TRS service credit
for actual service with one or more employers defined by Government
Code §821.001(7), retires from such an employer, and has at least
50 days or 400 hours of accumulated state personal or sick leave on
the last day of employment before retirement. Not more than an aggregate
of five days of unused state personal or sick leave may be accumulated
per year. State personal and sick leave may be combined, if needed,
for the purpose of calculating the necessary 50 days or 400 hours.
No more than one year of service credit may be purchased even if more
time has been accumulated.
(c) Credit purchased under this section may be used
only for the purpose of calculating the amount of a retirement plan
benefits but may not be used to determine eligibility for retirement
plan benefits.
(d) To establish service credit under this section,
an eligible member must submit an employer certification in the form
and manner prescribed by TRS. Additionally, the eligible member must
deposit with TRS, in the manner prescribed by TRS, the actuarial present
value of the additional standard retirement annuity benefits that
would be attributable to the conversion of the unused state personal
or sick leave into the service credit, as described in subsection
(e) of this section.
(e) To compute these amounts, TRS will use the State
Personal or Sick Leave Conversion Factor Tables furnished by the TRS
actuary of record. Specifically, TRS will select the applicable conversion
factor from the table based on the age of the member in full years
and months at the effective date of retirement. To obtain the cost
of the service credit, the conversion factor will be multiplied by
the increase in the monthly standard retirement annuity resulting
from the conversion of state personal or sick leave to an additional
one year of service credit. The increase in the annuity will be determined
using the standard retirement annuity without an adjustment for an
optional service retirement annuity plan selected by the member because
any optional plan selected by the member is required by Government
Code §824.204(b) to be the actuarial equivalent of the member's
standard retirement annuity.
Attached Graphic
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| Source Note: The provisions of this §25.162 adopted to be effective February 4, 2000, 25 TexReg 598; amended to be effective January 30, 2002, 27 TexReg 272; amended to be effective March 12, 2003, 28 TexReg 2100; amended to be effective April 1, 2011, 36 TexReg 1838; amended to be effective September 1, 2019, 44 TexReg 4185; amended to be effective September 1, 2023, 48 TexReg 4519 |
