Texas Register, Volume 30, Number 43, Pages 6973-7094, October 28, 2005 Page: 7,011
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The new chapter is generally proposed under the Government
Code, 845.102, which provides the board of trustees of the
Texas County and District Retirement System with the authority
to adopt rules necessary or desirable for efficient administration
of the system; and are proposed in anticipation of the authority
granted in 842.051 (c), Government Code, to be effective Jan-
uary 1, 2006.
The Government Code, Chapter 842, Subchapter A-1, as in ef-
fect on January 1, 2006, is the basis for these new rules.
111.1. Purpose.
The participation in the Texas County and District Retirement Sys-
tem ("TCDRS") by a subdivision that is not a county may be termi-
nated on a voluntary or involuntary basis in accordance with the provi-
sions of Chapter 842, Subchapter A-1, Government Code. The board
of trustees of the retirement system has been given rulemaking au-
thority to establish standards, definitions, and procedures it considers
necessary to administer Subchapter A-1, and is to take reasonable ac-
tions and exercise its discretion in a fair and equitable manner on a
case-by-case basis to preserve accrued benefits. Therefore, the board
has adopted rules and definitions of general application as set forth in
this chapter for the voluntary and involuntary termination of subdivi-
sions.
111.2. Definitions.
For purposes of this chapter only:
(1) The term "accrued benefit" means the actuarial equiv-
alent value of the sum of the member's accumulated contributions and
service credits as of the determination date without regard to credited
service.
(2) The term "actuarial equivalent value" is the accrued
benefit for members, and the actuarial equivalent, as described in
841.001(1), Government Code, of the supplemental annuity as of
the determination date.
(3) The term "determination date" means the date specified
in the termination agreement under 842.052(a)(1), Government Code,
or the date specified by the board under 842.053(d), Government
Code, as applicable, for determining the actuarial equivalent values
of all accrued benefits and supplemental annuities.
(4) The term "full performance" means the complete and
timely performance of all terms of the termination agreement, as origi-
nally agreed to by the subdivision or as thereafter modified or amended
in writing by the subdivision and TCDRS. On full performance of the
termination agreement, the subdivision is released from all future lia-
bility for the accrued benefits and supplemental annuities payable with
respect to the subdivision under the retirement system.
(5) The term "supplemental annuity" means the annuity
described in 844.002(c), Government Code. In determining the actu-
arial equivalent value of a supplement annuity as of the determination
date, the retirement system may take into consideration facts in exis-
tence on the determination date such as the prior death of a retiree or
joint annuitant.
111.3. Notices--Voluntary Termination.
(a) In the case of a voluntary termination under 842.052,
Government Code, the subdivision must provide to the system at least
12 days advance written notice of the date, hour and place of the meet-
ing at which the subject of the termination of participation in TCDRS
will be considered by the subdivision's governing body.
(b) The system will provide written notice of the subdivision' s
consideration of the termination of its participation in the retirementsystem to each member and annuitant of the subdivision by first class
mail to the person's most recent address of record with the system.
The notice will be a summary of the process and the general effect
of plan termination, and will include the date, hour and place of the
meeting as provided by the subdivision to the system under subsection
(a) of this section.
(c) Copies of the notice described in subsection (b) of this
section will be provided to the subdivision for posting in one or more
conspicuous places readily accessible to its workforce and in a manner
where the notice is likely to be seen. In lieu of posting, the subdivision
may have notices personally distributed to its employees.
(d) The subdivision must post or distribute the notice de-
scribed in subsection (b) of this section no later than the time that the
subdivision posts notice of the date, hour, place, and agenda of the
meeting at which the subject of the termination of participation in
TCDRS is to be considered, but in no event less than 72 hours before
such meeting.
111.4. Notices--Involuntary Termination.
(a) In the case of an involuntary termination under 842.053,
Government Code, the retirement system will provide written notice
to the presiding officer of the subdivision's governing body, if any, or
its successor, if any, and to each member and annuitant with respect
to the subdivision of the consideration by the board of trustees of the
retirement system to terminate the participation of the subdivision in
the retirement system. The written notice shall be sent by first class
mail to each person's most recent address of record with the system.
The notice will be a summary of the process and the general effect of
plan termination, and will state the date of the meeting at which the
subject of the termination of the subdivision's participation in TCDRS
will be considered by the board of trustees.
(b) The written notices described in subsection (a) of this sec-
tion will be mailed on or before the tenth day preceding the date of the
meeting at which the subject of the termination of the subdivision's
TCDRS participation will be considered by the board of trustees.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on October 17,
2005.
TRD-200504639
Tom Harrison
Deputy Director and General Counsel
Texas County and District Retirement System
Proposed date of adoption: December 1, 2005
For further information, please call: (512) 637-3230
CHAPTER 113. TEXAS COUNTY AND
DISTRICT RETIREMENT SYSTEM QUALIFIED
REPLACEMENT BENEFIT ARRANGEMENT
34 TAC 113.1 - 113.6
The Texas County and District Retirement System proposes new
Chapter 113, consisting of new 113.1 - 113.6, concerning
the establishment and operation of a qualified governmental ex-
cess benefit arrangement under 415(m) of the Internal Revenue
Code in accordance with the authority granted to the board in
845.504, Government Code.PROPOSED RULES October 28, 2005 30 TexReg 7011
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Texas. Secretary of State. Texas Register, Volume 30, Number 43, Pages 6973-7094, October 28, 2005, periodical, October 28, 2005; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth97316/m1/38/?q=%22%22~1&rotate=90: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.