SECTION 107.2. Payments by Members to Purchase Forfeited Benefits

(a) Pursuant to Government Code, §843.0031, a member who has withdrawn accumulated contributions from the system and is a contributing member with another participating subdivision or again becomes a contributing member with any participating subdivision may at any time before retirement pay to the system for deposit to the member's individual account 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that does not exceed the actuarial present value of the additional benefits that would have been attributable to the withdrawn contributions.

(b) An amount paid under subsection (a) of this section will be deposited to the member's individual account as accumulated contributions and credited with interest as allowed by Government Code, Title 8, Subtitle F.

(c) The amount paid under subsection (a) of this section together with all accumulated interest attributable to that amount is not subject to employer matching and will be excluded from the determination of the member's current service credit and multiple matching credits.

(d) For purposes of determining the interest to be credited to the amount paid under subsection (a) of this section, a payment that is received by the system on or before December 15, will be included in the member's account as accumulated contributions on the following January 1. A payment received after December 15 will not be included as accumulated contributions in the determination of the interest to be credited to the member's individual account until January 1 of the next following year.

Source Note: The provisions of this §107.2 adopted to be effective July 27, 2005, 30 TexReg 4214