Sec. 842.055. CLASS B. If any assets remain after the transfers are made under Section 842.054, the retirement system shall make a proportionate transfer to the individual account of each member of the subdivision not eligible to retire based on the ratio that the member's current service credit bears to the total current service credit of the class. The transfer to a member's individual account may not exceed 100 percent of the member's current service credit.
Added by Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 6, eff. January 1, 2006.
Section: Previous 842.007 842.0075 842.008 842.051 842.052 842.053 842.054 842.055 842.056 842.057 842.058 842.101 842.104 842.105 842.106 NextLast modified: September 28, 2016