Sec. 843.0031. OPTION TO PAY LUMP-SUM AMOUNT. (a) Repealed by Acts 2009, 81st Leg., R.S., Ch. 300, Sec. 38(1), eff. January 1, 2010.
(b) A member who has withdrawn accumulated contributions from the retirement system and who subsequently resumes employment with a subdivision may at any time before retirement pay to the system a lump sum in any amount that does not exceed the actuarial present value of the additional benefits that would have been attributable to the withdrawn contributions. Any amount paid under this subsection and interest accrued on the amount may not be considered in the computation of service credit.
(c) With respect to the account with the subdivision for which contributions had been withdrawn, after the date an amount is deposited under Subsection (b), the member is ineligible to reestablish any service credit with the subdivision that had been forfeited before the date of redeposit, even if the member would otherwise be eligible under an order adopted under Section 843.003.
Added by Acts 2003, 78th Leg., ch. 621, Sec. 10, eff. Jan. 1, 2004.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 16, eff. January 1, 2008.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 8, eff. January 1, 2010.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 9, eff. January 1, 2010.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 38(1), eff. January 1, 2010.
Section: Previous 843.001 843.002 843.003 843.0031 843.004 843.101 843.102 843.104 843.105 843.201 843.401 843.402 843.501 843.502 843.503 NextLast modified: September 28, 2016