| (a) Payment for service credit other than service credit
for accumulated state personal or sick leave must be received not
later than two calendar months after the later of the member’s
effective retirement date or the last day of the month in which the
member submits a retirement application and before the later of the
due date for the member's first monthly annuity payment or the date
on which the Teacher Retirement System of Texas (TRS) issues the first
monthly annuity payment to the member. If the service credit other
than service credit for accumulated state personal or sick leave must
be purchased in order to establish eligibility to retire, the purchase
must be completed by the effective date of retirement. If the purchase
of the service credit other than service credit for accumulated state
personal or sick leave cannot be completed within the time period
provided in this section, the member may decline to purchase the service
credit and maintain the member's effective retirement date or may
revoke the member's effective retirement date and select a later effective
retirement date that provides sufficient time to complete the purchase
of the service credit.
(b) Payment for accumulated state personal or sick
leave service credit must be received by TRS not later than the 90th
day after the date TRS issues a cost statement for the purchase of
the service credit. If the purchase is being made by a rollover distribution
from another eligible retirement plan or a direct trustee-to-trustee
transfer of funds from an eligible plan as described in §823.403(d),
Government Code, TRS may grant the member a one-time 30 day extension
to complete the purchase. If the member cannot complete the purchase
within the time period provided, the member may decline to purchase
the accumulated state personal or sick leave service credit and maintain
the member's effective retirement date or may revoke the member's
effective retirement date and select a later effective retirement
date that provides sufficient time to complete the purchase. Accumulated
state personal or sick leave credit may not be purchased in order
to establish eligibility for retirement benefits.
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