Texas Administrative Code

Texas Administrative Code

TITLE 34	PUBLIC FINANCE
PART 4	EMPLOYEES RETIREMENT SYSTEM OF TEXAS
CHAPTER 73	BENEFITS
RULE §73.15	Proportionate Retirement--Program Benefits

(a) Actuarial reductions for each class of service are those which would be used if all service from which the member has retired or is retiring was credited in that class.

(b) A person retiring with less service than is required in the applicable formula to compute average salary shall have benefits based upon the average salary for the months for which credit was established.

(c) The procedures to implement these principles are prescribed in the document entitled "Computation of Proportional Retirement Benefits." This document, which is to be considered a part of this section for all purposes, may be obtained from the executive director, Employees Retirement System; P.O. Box 13207; Austin, Texas 78711-3207. The formulas apply only to computation of benefits in programs or systems in which the member does not meet the length-of-service requirement for retirements.

Source Note: The provisions of this §73.15 adopted to be effective September 21, 1981, 6 TexReg 3427; amended to be effective July 17, 1986, 11 TexReg 3106; amended to be effective January 9, 1987, 11 TexReg 5132; amended to be effective March 15, 1988, 13 TexReg 1105; amended to be effective July 11, 1999, 24 TexReg 5021