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Texas Government Code - GOV'T § 824.805. Termination of Participation in Plan

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as provided by Subsection (b), a member terminates participation in the plan by:

(1) retirement;

(2) death;  or

(3) expiration of the period for which participation was approved.

(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.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 824.805. Termination of Participation in Plan - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-824-805/

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