| (a) Except as provided in subsection (b) of this section, for purposes of determining the current service credit and multiple matching credit of the member under Texas Government Code, §843.403, the amount deposited by the member (excluding the withdrawal charge and the amounts described in subsection (b) of this section) after December 31, 1998, to reestablish credit in the retirement system shall be considered to be accumulated contributions made by the member to the retirement system during the calendar year of deposit. The percentage to be used for the determination of the multiple matching credit of the member with respect to such deposit is that percentage adopted by the governing board of the authorizing subdivision and in effect during the month in which the deposit is made. The multiple matching credit percentage may be increased by the governing board on the terms provided by the Government Code, Chapter 844, Subchapter H. (b) The portion of the member's deposit that is a repayment of the amount transferred from a local pension system to the member's individual account in this retirement system pursuant to a merger under Texas Government Code, §842.006 and the accumulated interest attributable to such transferred amount shall not be considered when determining the current service credit and multiple matching credit of the member under subsection (a) of this section unless the merger agreement provides otherwise. (c) For purposes of determining the interest to be credited to the member's individual account, a deposit made under this section that is received by the system on or before December 15, will be included in the member's account as accumulated contributions on the following January 1. A deposit received after December 15 will not be included as accumulated contributions in the determination of the interest to be credited to the member's individual account until January 1 of the next following year. |
| Source Note: The provisions of this §103.7 adopted to be effective November 1, 1998, 23 TexReg 10885; amended to be effective July 18, 1999, 24 TexReg 5214; amended to be effective July 27, 2005, 30 TexReg 4214 |
