Tex. Gov't Code § 830.105

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 830.105 - Termination of Participation

(a) A person terminates participation in the optional retirement program, without losing any accrued benefits, by:

(1) death;

(2) retirement; or

(3) termination of employment in all institutions of higher education.

(b) A change of company providing optional retirement program benefits or a participant's transfer between institutions of higher education is not a termination of employment.

(c) The benefits of an annuity purchased under the optional retirement program are available only if the participant obtains the age of 70-1/2 years or terminates participation in the program as provided by Subsection (a).

Tex. Gov't. Code § 830.105

Amended by Acts 1981, 67th Leg., 1st C.S., p. 208, ch. 18, Sec. 37, eff. 11/10/1981; Acts 1987, 70th Leg., ch. 173, Sec. 1, eff. 8/31/1987. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 36.105 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981.