Texas Vernon’s Civil Statutes
Sec. § 5.06
Vested Rights of Group B Members


(a)

If a Group B member accrues five years of pension service, whether the pension service is accrued while a Group B member or while a member of the old plan, Plan B, Plan A, the combined pension plan, or a combination of the plans, the Group B member has vested rights and is eligible to apply for a retirement pension in accordance with Section 6.02 of this article.

(b)

If a Group B member has vested rights as determined under Subsection (a) of this section, and the Group B member either voluntarily or involuntarily leaves active service before becoming eligible to receive any benefits under Section 6.02 of this article, the person shall be provided with a letter approved by the board and signed by the executive director that, barring unrepaid refunds, clerical error, miscalculation, or other error, is incontestable and shall state:

(1)

the total amount of pension service the Group B member had accrued until the date the person left active service;

(2)

the total amount of contributions the Group B member made under the terms of Plan B and the combined pension plan; and

(3)

the monthly retirement pension due the Group B member at age 58.

(1)

a qualified actuary performs an actuarial analysis of the fiscal impact of the proposed amendment and determines that the amendment will not impact the actuarial soundness of the retirement fund;

(2)

the proposed amendment is placed on the agenda of the board of trustees for at least two consecutive meetings of the board that are not less than 30 days apart for the purpose of giving participating members an opportunity to comment on the proposed amendment; and

(3)

the proposed amendment is approved by a majority vote of the full membership of the board of trustees.

(b)

An amendment to the administrative rules adopted in accordance with this section becomes effective immediately unless otherwise provided by the amendment.

(b)

The applicant must execute a waiver on a form prescribed by the board in which the applicant waives a second disability retirement annuity resulting from the same disability that was the basis of the first disability at a higher rate than the applicant was receiving at the time of the reinstatement for a period of three years after reinstatement. After three years of reinstated service, any subsequent disability retirement annuity is computed as any other disability retirement annuity.

(c)

If the applicant is required to undergo retraining and is compensated during a period before being officially reinstated, the applicants monthly disability retirement annuity shall be reduced by the amount of any monthly departmental payroll benefit, to the extent that the latter is greater.

(d)

The board may approve the discontinuance of a disability retirement annuity as provided by this Act.
Source
Last accessed
Oct. 18, 2019