Sec. 824.806. BENEFITS FOR SERVICE AFTER PLAN PARTICIPATION. (a) Any eligible service credit accrued after termination of participation in the plan and before retirement shall be credited in the retirement system.
(b) At the time a member retires or dies, the retirement system shall compute the value of the additional service credit at the rate provided under Section 824.203, based on the lesser of the three years of service after the member's termination of plan participation, or the member's actual years of service after the termination, in which the member received the highest annual compensation. The retirement system shall add the amount computed under this subsection to the amount determined on the effective date of plan participation, and the sum is payable, subject to actuarial reduction if applicable, as the monthly annuity payment.
Added by Acts 1997, 75th Leg., ch. 1416, Sec. 21, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle C - Teacher Retirement System of Texas
Subchapter I. Deferred Retirement Option Plan
Section 824.8011. Deadline to Elect to Participate
Section 824.802. Participation in Plan
Section 824.803. Computation of Participant's Service and Annuity
Section 824.804. Benefits Under Plan
Section 824.805. Termination of Participation in Plan
Section 824.806. Benefits for Service After Plan Participation