Emergency Sections 
 An agency may adopt a new or amended section or repeal an existing section on 
an emergency basis if it determines that such action is necessary for the public 
health, safety, or welfare of this state. The section may become effective 
immediately upon filing with the Texas Register, or on a stated date less than 
20 days after filing, for no more than 120 days. The emergency action is 
renewable once for no more than 60 days. 
 Symbology in amended emergency sections. New language added to an existing 
section is indicated by the use of bold text. [Brackets] indicate deletion of 
existing material within a section. 
 
   
  TITLE 34. PUBLIC FINANCE 
 Part III. Teacher Retirement System of Texas 
  Chapter 23. Administrative Procedures 
  
  34 TAC sec.23.6 
 
  The Teacher Retirement System of Texas (TRS) adopts on an emergency basis new 
sec.23.6, concerning the trustee to trustee transfer of eligible rollover 
distributions from TRS. This section is being adopted on an emergency basis in 
order to comply with the requirements set forth in the Unemployment Compensation 
Amendments Act of 1992, requiring that qualified retirement plans permit such 
transfers for distributions made after December 31, 1992. 
 This section is intended to provide authority for TRS to make trustee to 
trustee transfers of eligible rollover distributions. 
 The new section is adopted on an emergency basis under the Texas Government 
Code, sec.825.102, which authorizes the Board of Trustees of the retirement 
system to adopt rules for the administration of the funds of the retirement 
system and for the transaction of business of the Board, and under the Texas 
Government Code, sec.825.506, which authorizes the Board of Trustees to adopt 
rules that modify the plan to the extent necessary for the retirement system to 
be a qualified plan. 
 
 
  sec.23.6. Trustee to Trustee Transfers. 
 
  (a) Effective for distributions made after December 31, 1992, the Teacher 
Retirement System of Texas shall permit the distributee of an eligible rollover 
distribution from the system to elect the have such distribution paid directly 
to an eligible retirement plan specified by the distributee in the form of a 
direct trustee to trustee transfer. 
   
  (b) The Teacher Retirement System of Texas shall develop procedures to 
implement this section in accordance with the Internal Revenue Code of 1986, 
sec.401(a)(31), as amended, and related regulations. Terms used in this section 
shall have the meaning assigned in the Internal Revenue Code of 1986, as 
amended. 
 
  Issued in Austin, Texas, on December 14, 1992. 
 TRD-9216618 
  Wayne Blevins 
 Executive Secretary 
 Teacher Retirement System of Texas 
    Effective date: December 14, 1992 
 Expiration date: April 4, 1993 
 For further information, please call: (512) 370-0524