| (a) The provisions of this section apply only to the
Judicial Retirement System of Texas Plan Two (JRS-II).
(b) An eligible member may establish equivalent membership
service credit authorized by §838.108, Texas Government Code,
as provided in this section. The provisions of §77.15 of this
title (relating to Payments to Establish or Reestablish Service Credit)
do not apply to service credit established under this section.
(c) A member is eligible to establish service credit
under this section in the membership class in which the member holds
a position if the member:
(1) has 180 months of service credit for one or more
periods of time during which the member held a position as a judge
and the required contributions were made;
(2) is a member of the system at the time credit is
established; and
(3) is not eligible to establish other credit or service.
(d) An eligible member shall deposit with the system
in a lump sum a contribution in the amount determined by the system
to be the actuarial present value of the benefit attributable to the
credit established under this section. The tables recommended by the
system's actuary and adopted by the board shall be used by the system
to determine the actuarial present value. The 2009 additional service
credit tables for JRS-II are adopted by reference and made a part
of this rule for all purposes. The additional service credit tables
apply to service purchase calculations performed on or after September
1, 2009, and are those tables adopted by the board on February 24,
2009, based on assumptions adopted by the board on May 13, 2008. The
2014 additional service credit tables apply to service purchase calculations
performed on or after September 1, 2014, but before 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. For service
purchase calculations performed prior to September 1, 2014, the previously
adopted tables apply. Copies of these tables are available from the
executive director of the Employees Retirement System of Texas at
200 E. 18th Street, P.O. Box 13207, Austin, Texas 78711-3207.
(e) Actuarial present value shall be based on:
(1) the member's age on the date of the deposit required
by this subsection;
(2) the earliest date on which the member will become
eligible to retire and receive a service retirement annuity after
establishing credit under this section; and
(3) the future employment, compensation, investment
and retirement benefit assumptions recommended by the actuaries and
adopted by the board.
(f) Credit shall be established in whole year increments
of credit.
(g) A member who establishes credit under this section
shall certify that the member is not eligible to establish other credit
or service and shall waive any and all right to establish such credit
or service that the member had on the date of the deposit required
by subsection (d) of this section.
(h) Credit established under this section may not be
used to compute the amount of a disability retirement annuity.
(i) A member who withdraws contributions and cancels
credit established under this section may not reestablish such credit
under §838.102, Texas Government Code, but may again establish
credit as provided in this section.
(j) For a member establishing equivalent membership
service credit authorized by §838.108, Texas Government Code,
on or after September 1, 2018, the tables used to determine the actuarial
present value of the service credit are those adopted by the board,
and as adjusted from time to time as required by §840.005, Texas
Government Code, in effect on the date the service credit is established.
Copies of these tables are available from the System's executive director,
Employees Retirement System of Texas at 200 E. 18th Street, P.O. Box
13207, Austin, Texas 78711-3207.
|
| Source Note: The provisions of this §77.21 adopted to be effective March 10, 2004, 29 TexReg 2372; amended to be effective January 10, 2006, 31 TexReg 169; amended to be effective June 9, 2009, 34 TexReg 3517; amended to be effective June 10, 2014, 39 TexReg 4486; amended to be effective March 27, 2018, 43 TexReg 1876 |
