(a) A cash balance group member who has withdrawn contributions and canceled service credit in a class of membership may reestablish the canceled service credit in the retirement system for the purposes described by Subsection (c) by submitting a request to the system in a form and manner prescribed by the system.
(b) The retirement system shall grant the canceled service credit of a member who submits a request as provided by Subsection (a) after the system verifies that the member is a cash balance group member.

Terms Used In Texas Government Code 820.031

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.

(c) Service credit established under this section may be used only to determine whether the cash balance group member is eligible to retire and receive a cash balance annuity under this chapter. The service credit does not affect eligibility for any other purpose, including for purposes of determining eligibility to participate in the group benefits program established under Chapter 1551, Insurance Code.

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