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Texas Government Code - GOV'T § 830.105. Termination of Participation

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

(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).

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 830.105. Termination of Participation - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-830-105/

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