|
|
|
|
AN ACT
|
|
relating to procedures and eligibility for terminating |
|
participation in the Teacher Retirement System of Texas deferred |
|
retirement option plan. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 824.805, Government Code, is amended by |
|
amending Subsection (b) and adding Subsections (c) and (d) to read |
|
as follows: |
|
(b) This subsection applies only to a member participating |
|
in the plan on September 1, 2005, or to a member whose period of |
|
participation in the plan expired on or before September 1, 2005, |
|
but who has not retired on or before that date. A member described |
|
by this subsection may, before December 31, 2005, revoke the |
|
member's decision to participate in the plan on a form prescribed by |
|
and filed with the retirement system. The retirement system shall |
|
make account transfers and change records for a member who revokes |
|
the member's decision to participate in the plan under this |
|
subsection as if the member had never participated in the plan. |
|
(c) A member or beneficiary described by Subsection (d) may, |
|
on or before December 31, 2015, revoke the member's decision to |
|
participate in the plan on a form prescribed by and received by the |
|
retirement system not later than that date. The retirement system |
|
shall make account transfers and change records for a member whose |
|
decision to participate in the plan is revoked under this |
|
subsection, as if the member had never participated in the plan. |
|
(d) Subsection (c) applies only to: |
|
(1) a member: |
|
(A) whose approved period of participation in the |
|
plan has expired; and |
|
(B) who has not retired on or before December 31, |
|
2015; or |
|
(2) a beneficiary of a member whose approved period of |
|
participation in the plan has expired and who has not retired before |
|
death if: |
|
(A) the beneficiary is eligible to receive both a |
|
distribution of benefits payable on the death of the member and the |
|
distributions from the plan; and |
|
(B) the member dies on or after September 1, |
|
2015. |
|
SECTION 2. This Act takes effect September 1, 2015. |
|
|
|
______________________________ |
______________________________ |
|
President of the Senate |
Speaker of the House |
|
|
|
I certify that H.B. No. 1937 was passed by the House on April |
|
23, 2015, by the following vote: Yeas 139, Nays 0, 2 present, not |
|
voting. |
|
|
|
______________________________ |
|
Chief Clerk of the House |
|
|
|
I certify that H.B. No. 1937 was passed by the Senate on May |
|
15, 2015, by the following vote: Yeas 31, Nays 0. |
|
|
|
______________________________ |
|
Secretary of the Senate |
|
APPROVED: _____________________ |
|
Date |
|
|
|
_____________________ |
|
Governor |