Section 71.29 - Purchase of Additional Service Credit(a) A cash balance group member may not establish service credit under this section.(b) An eligible member may establish equivalent membership service credit authorized by Tex. Gov't Code § 813.513 as provided in this section. The provisions of § 71.14 of this chapter do not apply to credit established under this section.(c) A member is eligible to establish credit under this section in the membership class in which the member holds a position if the member:(1) has 120 months of service credit for one or more periods of time during which the member held a position in a membership class and the required contributions were made;(2) is actively contributing to the system at the time credit is established; and(3) is not eligible to establish other credit or service.(d) An eligible member shall deposit with the system in a lump sum a contribution in the amount determined by the system to be the actuarial present value of the benefit attributable to the credit established under this section. The tables recommended by the actuaries and adopted by the board shall be used by the system to determine the actuarial present value. The 2009 additional service credit tables apply to service purchase calculations performed on or after September 1, 2009, and are those tables adopted by the board on February 24, 2009, based on assumptions adopted by the board on May 13, 2008. The 2010 additional service credit tables apply only to those employees hired by the state of Texas on or after September 1, 2009, as defined in § 73.2 of this title. The 2010 additional service credit tables apply to service purchase calculations performed on or after September 1, 2010, and are those tables adopted by the board on February 23, 2010, based on legislative changes to the retirement plan effective September 1, 2009. The 2014 additional service credit tables apply to service purchase calculations performed on or after September 1, 2014, but before September 1, 2018, and are those tables adopted by the board on February 25, 2014, based on assumptions adopted by the board on February 26, 2013, and on legislative changes to the retirement plan effective September 1, 2013. For service purchase calculations performed prior to September 1, 2014, the previously adopted tables apply. The actuarial present value shall be based on:(1) the member's age on the date of the deposit required by this subsection;(2) the earliest date on which the member will become eligible to retire and receive a service retirement annuity after establishing credit under this section; and(3) the future employment, compensation, investment and retirement benefit assumptions recommended by the actuaries and adopted by the board.(e) Credit shall be established in increments of 12 months of credit, except that a member who may become eligible to retire by establishing fewer than 12 months of credit may establish the minimum number of months of credit necessary for the member to meet retirement eligibility.(f) A member who establishes credit under this section shall certify that the member is not eligible to establish other credit or service and shall waive all rights to establish such credit or service that the member had on the date of the deposit required by subsection (d) of this section. This subsection does not apply to service credit transferred as authorized by Tex. Gov't Code Chapter 805.(g) Credit established under this section may not be used to determine average monthly compensation for the purpose of computing an annuity.(h) A member who withdraws contributions and cancels credit established under this section may not reestablish such credit under Tex. Gov't Code § 813.102 but may again establish credit as provided in this section.(i) The provisions of Tex. Gov't Code § 813.503 do not apply to credit established under this section.(j) For a member establishing equivalent membership service credit authorized by Tex. Gov't Code § 813.513 on or after September 1, 2018, the tables used to determine the actuarial present value of the service credit are those adopted by the board and in effect on the date the service credit is established, as adjusted from time to time as required by Tex. Gov't Code § 815.105.34 Tex. Admin. Code § 71.29
The provisions of this §71.29 adopted to be effective January 8, 2002, 27 TexReg 273; amended to be effective June 9, 2009, 34 TexReg 3517; amended to be effective June 14, 2010, 35 TexReg 5041; amended to be effective June 10, 2014, 39 TexReg 4485; Amended by Texas Register, Volume 43, Number 12, March 23, 2018, TexReg 1875, eff. 3/27/2018; Amended by Texas Register, Volume 47, Number 36, September 9, 2022, TexReg 5497, eff. 9/14/2022