34 TAC §103.7
The Texas County and District Retirement System adopts an
amendment to §103.7, concerning the determination of the amount of reestablished
credit in the retirement system following the redeposit of amounts previously
withdrawn by the member. The amendment is adopted without changes to the proposed
text as published in the May 14, 1999, issue of the
Texas Register
(24TexReg3686). The amendment excludes repayments of
amounts transferred from a local pension system and the accumulated interest
earned by such amounts in the computation for determining the amount of reestablished
credit. Including such amounts in the computation could produce a greater
benefit than would be produced if the member's credit had never been canceled.
These excluded amounts will be credited to the redepositing member's individual
account but will have no effect on the computation of the member's reestablished
current service credit or multiple matching credit, unless a merger agreement
provides otherwise.
No comments were received from the public regarding adoption of the amendment.
The amendment is adopted under the Government Code, Chapter 845,
§845.102, which provides the board of trustees of the Texas County and
District Retirement System with the authority to adopt rules necessary or
desirable for efficient administration of the system.
The Government Code, §843.403, is affected by this amendment.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on June
28, 1999.
TRD-9903815
Terry Horton
Director
Texas County and District Retirement System
Effective date: July 18, 1999
Proposal publication date: May 14, 1999
For further information, please call: (512) 328-8889