SECTION 123.17. Actuarial Tables

(a) For the period from the January 22, 2001 original initial effective date of this section through December 31, 2014, service retirement benefits shall be calculated on the basis of the UP-1984 table with an age set back of two years for retired members and an age set back of eight years for beneficiaries of retired members.

(b) For the period from the January 22, 2001 original initial effective date of this section through December 31, 2014, disability retirement benefits on disability retirements shall be calculated on the basis of the UP-1984 table with an age set back of two years for disabled annuitants and an age set back of eight years for beneficiaries of disabled annuitants.

(c) Effective beginning January 1, 2015, service retirement benefits for retired members, and disability retirement benefits on disability retirements for disabled annuitants, shall be calculated on the basis of a 70%/30% male/female blend of the RP-2000 Blue Collar Table with 107.5% load, and with a fully generational Scale BB projection. Effective beginning January 1, 2015, service retirement benefits for beneficiaries of retired members, and disability retirement benefits on disability retirements for beneficiaries of disabled annuitants, shall be calculated on the basis of a 30%/70% male/female blend of the RP-2000 Blue Collar Table with 107.5% load, and with a fully generational Scale BB projection.

(d) After consultation with the retirement system's actuary, the Board may elect by Board resolution to phase in over a reasonable period of time the impact on annuity purchase rates that may result from any changes in mortality tables, other actuarial tables, or actuarial equivalents adopted by the Board from time to time.

Source Note: The provisions of this §123.17 adopted to be effective November 19, 2020, 45 TexReg 8171