Sec. 815.515. DISPOSITION OF UNCLAIMED CONTRIBUTIONS OF FORMER MEMBERS. (a) Subject to Chapters 803 and 805, if the retirement system has not received a request for a refund of the accumulated contributions of a member in accordance with Subchapter B, Chapter 812, before the seventh anniversary of the member's last day of service, the retirement system may refund the accumulated contributions to the member or the member's heirs. If the member or the member's heirs cannot be found, the member's accumulated contributions revert to the retirement system.
(b) The retirement system shall credit any amounts that revert to the retirement system under Subsection (a) to the state accumulation account.
(c) The board of trustees may adopt rules to implement and administer this section.
Added by Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 25, eff. September 1, 2009.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle B - Employees Retirement System of Texas
Subchapter F. Miscellaneous Administrative Procedures
Section 815.501. Statement of Amount in Individual Accounts
Section 815.5021. Payment to Alternate Beneficiary
Section 815.504. Reproduction and Preservation of Records
Section 815.505. Certification of Names of Law Enforcement and Custodial Officers
Section 815.506. Budget and Actuarial Information
Section 815.507. Plan Qualification
Section 815.5071. Trustee-to-Trustee Transfer
Section 815.5072. Excess Benefit Arrangement
Section 815.508. Complaint Files
Section 815.509. Advisory Committees
Section 815.5091. Membership on Advisory Committee on Investments
Section 815.5092. Ineligibility for Membership on Advisory Committee on Investments
Section 815.5093. Review of and Removal From Advisory Committee on Investments
Section 815.510. Annual Report
Section 815.511. Administrative Decision; Appeal and Negotiation
Section 815.5111. Diligent Prosecution of Suit
Section 815.512. Protection From Double or Multiple Liability
Section 815.513. Exclusive Remedies
Section 815.514. Mailings on Behalf of Nonprofit Association
Section 815.515. Disposition of Unclaimed Contributions of Former Members