Texas Government Code Title 8, Chapter 830 - Optional Retirement Program

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 830.001 - Purpose Of Chapter
  The purpose of this chapter is to establish a complete retirement program for faculty members employed in state-supported institutions of higher education as an incentive...
• Texas Section 830.0011 - Definition
  Notwithstanding Section 821.001, in this chapter "retirement system" means the Teacher Retirement System of Texas or the Employees Retirement System of Texas, as the context...
• Texas Section 830.002 - Optional Retirement Program
  (a) The optional retirement program established as provided by this subtitle shall provide for contributions to any type of investment authorized by Section 403(b) of...
• Texas Section 830.003 - Application
  In this chapter, the term "institution of higher education" includes the Texas Higher Education Coordinating Board, the Texas State Technical College System, and the institutions...
• Texas Section 830.004 - Administration
  (a) A governing board may provide for contributions to any type of investment authorized by Section 403(b) of the Internal Revenue Code of 1986 (26...
• Texas Section 830.005 - Exemption From Taxes
  If qualified to do business in this state, a life insurance or annuity company is exempt from the payment of franchise or premium taxes on...

SUBCHAPTER B PARTICIPATION

• Texas Section 830.006 - Reports From Institutions
  (a) The governing board of each institution of higher education, other than the Texas Higher Education Coordinating Board, shall annually submit a report to the...
• Texas Section 830.101 - Eligibility To Participate
  (a) The governing board of each institution of higher education shall provide an opportunity to participate in the optional retirement program to all faculty members...
• Texas Section 830.102 - Option To Participate
  (a) A member of the retirement system who is eligible to participate in the optional retirement program may elect to continue as a member of...
• Texas Section 830.103 - Effect Of Transfers And Changes In Employment Status
  (a) An institution of higher education shall accept the transfer of a participant's optional retirement program from another institution of higher education or from the...
• Texas Section 830.104 - Withdrawal Of Contributions To The Retirement System
  (a) A person who is a participant in the optional retirement program may withdraw accumulated contributions from the retirement system. (b) An application to withdraw...
• Texas Section 830.105 - Termination Of Participation
  (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...
• Texas Section 830.106 - Eligibility For Resumption Of Membership
  A participant in the optional retirement program is not eligible for membership in the retirement system unless the person: (1) terminates employment covered by the...

SUBCHAPTER C CONTRIBUTIONS AND BENEFITS

• Texas Section 830.107 - Investment Advisory Fees
  (a) A participant in the optional retirement program may authorize the payment of investment advisory fees from the amount in the participant's custodial account or...
• Texas Section 830.201 - Contributions
  (a) Each fiscal year the state shall contribute to the optional retirement program an amount equal to 8-1/2 percent of the aggregate annual compensation of...
• Texas Section 830.2015 - Supplemental Contributions From Institutions Of Higher Education
  (a) Each fiscal year, the governing board of an institution of higher education may make a contribution to the optional retirement program as provided by...
• Texas Section 830.202 - Collection And Disbursement Of Contributions
  (a) The contributions of participants in the optional retirement program shall be made by salary reduction pursuant to an agreement made under Section 830.204. (b)...
• Texas Section 830.203 - Collection Of Contributions From Noneducational And General Funds
  (a) In this section: (1) "General academic teaching institution" has the meaning assigned by Section 61.003, Education Code. (2) "Medical and dental unit" has the...
• Texas Section 830.204 - Salary Reduction Agreement
  (a) A participant in the optional retirement program and either the employing institution of higher education or, as applicable, the Texas Education Agency, acting through...
• Texas Section 830.205 - Benefits
  Benefits in the optional retirement program vest in a participant after one year of participation in one or more optional retirement plans operating under this...

Last modified: September 28, 2016