| (a) Actuarial assumptions, mortality tables, and reduction
factors used for calculation of benefits first payable on or after
September 1, 2018, but prior to September 1, 2022, are those adopted
by the board, as adjusted from time to time as required by Tex. Gov't
Code §815.105, and apply to forms and effective dates of annuities
specified by the board.
(b) The 1999 reduction factors for optional forms of
retirement annuities apply to retirements effective on or after September
30, 1999, but prior to September 30, 2009, and are those factors adopted
by the board on December 8, 1999, based on assumptions adopted by
the board on December 9, 1998. The 1999 reduction factors apply to
annuities first payable between January 1, 2000, and August 31, 2009.
The 2009 reduction factors for optional forms of retirement annuities
apply to retirements effective on or after September 30, 2009, but
prior to September 1, 2014, and are those factors adopted by the board
on February 24, 2009, based on assumptions adopted by the board on
May 13, 2008. The 2014 reduction factors for optional forms of retirement
annuities apply to retirements effective on or after September 1,
2014, but prior to September 1, 2018, and are those factors adopted
by the board on February 25, 2014, based on assumptions adopted by
the board on February 26, 2013, and further based on legislative changes
to the retirement plan effective September 1, 2013.
(c) The actuaries have developed reduction factors
for early retirement or death in accordance with the mortality tables
adopted by the board. The 2009 reduction factors for early retirement
or death apply to retirements effective on or after September 30,
2009, but prior to September 1, 2010, and apply to deaths first reported
to ERS on or after September 1, 2009, but prior to September 1, 2010,
and are those factors adopted by the board on February 24, 2009, based
on assumptions adopted by the board on May 13, 2008. The 2010 reduction
factors for early retirement or death apply only to those employees
hired by the state of Texas on or after September 1, 2009, as defined
in §73.2 of this chapter. The 2010 reduction factors apply to
retirements effective on or after September 30, 2010, but prior to
September 1, 2014, and apply to deaths first reported to ERS on or
after September 1, 2010, but prior to September 1, 2014, and are those
factors adopted by the board on February 23, 2010, based on legislative
changes to the retirement plan effective September 1, 2009. The 2014
reduction factors for early retirement or death apply to retirements
effective on or after September 1, 2014, but prior to September 1,
2018, and deaths first reported to ERS on or after September 1, 2014,
but prior to September 1, 2018, and are those tables adopted by the
board on February 25, 2014, based on assumptions adopted by the board
on February 26, 2013, and on legislative changes to the retirement
plan effective September 1, 2013.
(d) The 2000 reduction factors for the partial lump
sum option apply to retirements effective on or after January 1, 2000,
but prior to September 1, 2009, and are those factors adopted by the
board on December 8, 1999, based on assumptions adopted by the board
on December 9, 1998. The 2009 reduction factors for the partial lump
sum option apply to retirements effective on or after September 30,
2009, but prior to September 1, 2014, and deaths first reported to
ERS on or after September 1, 2009, but prior to September 1, 2014,
and are those factors adopted by the board on February 24, 2009, based
on assumptions adopted by the board on May 13, 2008. The 2014 reduction
factors for the partial lump sum option apply to retirements effective
on or after September 1, 2014, but prior to September 1, 2018, and
are those factors adopted by the board on February 25, 2014, based
on assumptions adopted by the board on February 26, 2013, and on legislative
changes to the retirement plan effective September 1, 2013.
(e) The 2005 reduction factors for standard nonoccupational
disability retirements apply to disability retirement applications
received by the system on or after September 1, 2005, for retirements
effective prior to September 30, 2009, and are those factors adopted
by the board on August 24, 2005, based on assumptions adopted by the
board on December 10, 2003. The 2009 reduction factors for standard
nonoccupational disability retirements apply to retirements effective
on or after September 30, 2009, but prior to September 30, 2010, and
are those factors adopted by the board on February 24, 2009, based
on assumptions adopted by the board on May 13, 2008. The 2010 reduction
factors for standard nonoccupational disability retirements apply
only to those employees hired by the state of Texas on or after September
1, 2009, as defined in §73.2 of this chapter. The 2010 reduction
factors for standard nonoccupational disability retirements apply
to retirements effective on or after September 30, 2010, but prior
to September 1, 2014, and are those factors adopted by the board on
February 23, 2010, based on legislative changes to the retirement
plan effective September 1, 2009. The 2014 reduction factors for standard
nonoccupational disability retirements apply to retirements effective
on or after September 1, 2014, but prior to September 1, 2018, and
are those factors adopted by the board on February 25, 2014, based
on assumptions adopted by the board on February 26, 2013, and on legislative
changes to the retirement plan effective September 1, 2013.
|
| Source Note: The provisions of this §73.21 adopted to be effective September 21, 1981, 6 TexReg 3427; amended to be effective April 26, 1983, 8 TexReg 1217; amended to be effective January 11, 1984, 8 TexReg 5533; amended to be effective April 18, 1984, 9 TexReg 1894; amended to be effective December 14, 1987, 12 TexReg 4533; amended to be effective November 23, 1989, 14 TexReg 5934; amended to be effective January 10, 1991, 16 TexReg 42; amended to be effective December 13, 1991, 16 TexReg 6937; amended to be effective April 20, 1994, 19 TexReg 2550; amended to be effective January 9, 2000, 24 TexReg 12072; amended to be effective September 15, 2005, 30 TexReg 5809; amended tobe effective June 9, 2009, 34 TexReg 3517; amended to be effective March 15, 2010, 35 TexReg 2201; amended to be effective June 14, 2010, 35 TexReg 5041; amended to be effective June 10, 2014, 39 TexReg 4486; amended to be effective March 27, 2018, 43 TexReg 1876; amended to be effective September 14, 2022, 47 TexReg 5497 |
