Tex.
Gov't Code Section 824.805
Termination of Participation in Plan
(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.
Source:
Section 824.805 — Termination of Participation in Plan, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.824.htm#824.805 (accessed May 18, 2024).
