EMERGENCY RULES 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 and remaining in effect no more than 120 days. The emergency action is renewable once for no more than 60 additional 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 29. Benefits Retirement 34 TAC sec.29.11 The Teacher Retirement System of Texas (TRS) adopts by reference on an emergency basis an amendment to sec.29.11, concerning actuarial tables adopted by reference and used for early age retirement, retirement options, and disability retirement options. The new tables are adopted as a result of the amendments to the law governing service retirement allowing an additional joint survivor benefit option. Also the new tables update the early age reduction factors to reflect a statutory amendment that will allow retirement at age 50 with 30 years of service credit without a reduction in retirement benefits. The amendment is adopted on an emergency basis so that factors used to calculate retirement benefit options provided by Senate Bill 9, 74th Legislature are in effect as of September 1, 1995, the effective date of the bill providing the new option. The amendment is adopted on an emergency basis under the Texas Government Code, sec.825.102, which provides the Board of Trustees of the Teacher Retirement with the authority to adopt rules for membership eligibility, the administration of the funds of the retirement system and the transaction of its business; and s825.105, which authorizes the board to adopt actuarial tables for benefit calculations. sec.29.11. Actuarial Tables.
    Actuarial tables furnished by Watson Wyatt Worldwide
      [the Wyatt Company], Consulting Actuaries, will be used for computation of benefits. Factors for ages or types of annuities not included in the tables will be computed from the same data by the same general formulas. The Teacher Retirement System adopts by reference Watson Wyatt Worldwide's
        [the Wyatt Company's] June 1995
          [February 20, 1991], factors for retirement options and the early age reduction factors based on 8.0% interest. These actuarial tables shall be effective beginning September 1, 1995
            [September 1, 1991]. The Teacher Retirement System also adopts by reference Watson Wyatt Worldwide's
              [the Wyatt Company's] June 1995
                [December 18, 1991], factors for disabled member retirement options based on 8.0% interest. These actuarial tables shall be effective beginning September 1, 1995
                  [September 1, 1992]. The board of trustees may change the tables or adopt new tables from time to time by amending this section; provided however, that any such change does not result in any member receiving a smaller benefit than the benefit computed immediately before the change. Information regarding and/or copies of these tables may be obtained by contacting Teacher Retirement System of Texas, 1000 Red River Street, Austin, Texas 78701-2698, (512) 397- 6400. Issued in Austin, Texas, on August 8, 1995. TRD-9509950 John R. Mercer Interim Executive Director Teacher Retirement System of Texas Effective date: August 30, 1995 Expiration date: October 14, 1995 For further information, please call: (512) 370-0506