| (a) Except as provided in subsection (b) of this section, a member who elects to participate in the Deferred Retirement Option Plan (DROP) but also desires to purchase special service credit must purchase all special service credit eligible for purchase on or before the effective date of the member's DROP participation. Special service credit that a member would otherwise become eligible to purchase during DROP participation may not be purchased after the effective date of DROP participation. Also, an election to participate in DROP disqualifies any state personal or sick leave accumulated at the time of the effective date of the member's DROP participation as well as such leave accumulated during participation in DROP from being used in calculating the number of days or hours required to purchase state personal or sick leave at the time of actual retirement. (b) A member participating in DROP on September 1, 2001, was permitted to elect, before December 31, 2001, to discontinue participation in DROP on a form prescribed by and filed with TRS. Additionally, a member participating in DROP on September 1, 2005, or whose period of participation in the plan expired on or before September 1, 2005, but who has not retired on or before that date may, before December 31, 2005, elect to discontinue participation in DROP on a form prescribed by and filed with TRS. If a member discontinued participation in DROP as described in this subsection, this rule shall not be deemed to bar the member from purchasing special service credit for which the requirements have been earned or met before or during the member's participation in DROP. (c) A member who completes the period of participation in DROP and who returns to employment with a TRS-covered employer without having retired may purchase prior to retirement any special service credit for which the member is eligible and for which the requirements have been earned or met entirely after the member's participation in DROP. |
| Source Note: The provisions of this §29.63 adopted to be effective May 10, 2000, 25 TexReg 4188; amended to be effective March 12, 2003, 28 TexReg 2106; amended to be effective December 29, 2005, 30 TexReg 8699; amended to be effective April 1, 2011, 36 TexReg 1995 |
