| (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. |
| Source Note: The provisions of this §29.51 adopted to be effective April 20, 1988, 13 TexReg 1672; amended to be effective September 1, 1992, 17 TexReg 5121; amended to be effective June 1, 1995, 20 TexReg 3734; amended to be effective March 12, 2003, 28 TexReg 2105; amended to be effective March 8, 2007, 32 TexReg 1087; amended to be effective August 25, 2008, 33 TexReg 6970 |
