| (16) differential pay that is less than 50% of the
compensation for service in a full-time position. Differential pay
is pay by an employer to a member who leaves membership eligible employment
to serve in the military and the pay represents all or some of the
difference between what the member earned in the TRS covered employment
and what he or she is earning in the military job. Differential pay
that is at least 50% of the compensation for full-time service in
the membership eligible position may be reported to TRS and deposits
submitted at the discretion of the employer.
(e) The maximum amount of compensation of any member
that may be taken into account under the retirement system shall not
exceed $150,000 for plan years commencing on or after September 1,
1996. For plan years commencing on or after January 1, 2002, the maximum
amount of compensation shall not exceed the limit contained in the
Internal Revenue Code §401(a)(17)(A), 26 United States Code §401(a)(17)(A).
For plan years beginning before January 1, 1997, in determining the
compensation of any member for any year, the family aggregation rules
of the Internal Revenue Code §414(q)(6), 26 United States Code §414(q)(6)
shall apply except the term "family" shall include only the spouse
of the member and any lineal descendants of the member who have not
attained age 19 before the end of the year. The limits set forth in
the first two sentences of this subsection shall be increased from
time to time, to reflect cost of living increases, in accordance with
the Internal Revenue Code §401(a)(17), 26 United States Code §401(a)(17).
The dollar limitation prescribed in the first two sentences of this
subsection shall not apply to limit the compensation of any person
who first becomes a member before September 1, 1996. Furthermore,
that limitation shall not apply for any period during which such limitation
is repealed or is not enforced by the Internal Revenue Service with
regard to governmental plans. In applying the limits described in
this section, a plan year is September 1 through August 31.
(f) TRS may rely upon employer certifications in determining
creditable compensation or may conduct an investigation to determine
whether any ineligible compensation has been reported. At the request
of TRS, employers will provide copies of any records or information
the retirement system requests. Such records may include, but are
not limited to, copies of contracts, work agreements, salary schedules
or addenda, board minutes, payroll records, or other materials that
will assist the retirement system in making a determination.
|
| Source Note: The provisions of this §25.21 adopted to be effective September 26, 1979, 4 TexReg 3303; amended to be effective September 4, 1981, 6 TexReg 3097; amended to be effective December 4, 1985, 10 TexReg 4534; amended to be effective September 1, 1989, 14 TexReg 4133; amended to be effective June 1, 1995, 20 TexReg 3733; amended to be effective March 12, 2003, 28 TexReg 2094; amended to be effective July 22, 2003, 28 TexReg 5659; amended to be effective October 18, 2006, 31 TexReg 8563; amended to be effective March 8, 2007, 32 TexReg 1079; amended to be effective May 22, 2008, 33 TexReg 4003; amended to be effective January 24, 2010, 35 TexReg 502;amended to be effective April 1, 2011, 36 TexReg 1830; amended to be effective June 20, 2013, 38 TexReg 3798; amended to be effective December 15, 2014, 39 TexReg 9705; amended to be effective May 25, 2022, 47 TexReg 3060 |
