Section 304.3 - Determination of Accrued Benefit(a) For purposes of § 304.2 of this title (relating to Departmental Revocation of Participation in the Pension System) and this section, an "affected member" means each current member of a participating department who is listed on the department's certified membership roster as required under § 304.2(c)(2) of this title and who has not commenced a retirement benefit prior to the date a revocation occurs as determined under § 304.2 of this title.(b) Each affected member will be fully vested in the affected member's accrued benefit in the pension system as of the date the revocation occurs, regardless of the years of qualified service or age of such affected member as of such date, as determined under subsection (c), (d), or (e) of this section, as applicable.(c) If the affected member has less than 10 years of qualified service with the pension system as of the date the revocation occurs, his or her accrued benefit will be equal to the product of (1) and (2) where: (1) equals the product of the actual number of years of qualified service the affected member has earned with the pension system, including any partial years, multiplied by five percent (5%); and(2) equals the full service retirement annuity determined under § 308.2(f) of this title (relating to Service Retirement Annuity) based on the department's average monthly Part One contributions as of such date.(d) If the affected member has at least 10 years but less than 15 years of qualified service with the pension system as of the date the revocation occurs, his or her accrued benefit will be equal to the product of (1) and (2) where:(1) equals the sum of fifty percent (50%) plus the product of the actual number of years of qualified service, including any partial years, in excess of 10 years that the affected member has earned with the pension system multiplied by ten percent (10%); and(2) equals the full service retirement annuity determined under § 308.2(f) of this title based on the department's average monthly Part One contributions as of such date.(e) If the affected member has 15 years of qualified service or more with the pension system as of the date the revocation occurs, his or her accrued benefit will be equal to the full service retirement benefit determined under § 308.2(f) of this title plus any supplemental benefit determined under § 308.2(g) of this title based on the department's average monthly Part One contributions and the affected member's actual years of qualified service as of such date.(f) An affected member who vests in his or her accrued benefit under this section may commence such accrued benefit upon attaining age 55 by applying for a retirement benefit in accordance with Chapter 864, Texas Government Code.(g) Accrued benefits of vested terminated members and retirees of a department will not be affected by a department's revocation of its participation in the pension system under § 304.2 of this title. A vested terminated member of such department may commence his or her accrued benefit upon attaining age 55 by applying for a retirement benefit in accordance with Chapter 864, Texas Government Code, and a retiree of such department will continue to receive the retirement benefit he or she was receiving as of the date of such revocation.34 Tex. Admin. Code § 304.3
Adopted by Texas Register, Volume 45, Number 28, July 10, 2020, TexReg 4775, eff. 7/19/2020