SECTION 29.72. Eligibility to Select PLSO

(a) Except as provided in subsection (b) of this section, effective September 1, 2005, a member is eligible to select a partial lump-sum distribution only if the member's age and years of service credit total at least 90 at the time of retirement and the member meets the other requirements of §824.2045, Government Code, as amended by Senate Bill 1691, 79th Legislature, Regular Session (2005).

(b) A member eligible under §51.12 of this title (relating to Applicability of Certain Laws in Effect Before September 1, 2005) is eligible to select a partial lump-sum distribution as provided by §824.2045, Government Code, prior to its amendment effective September 1, 2005, by Senate Bill 1691, 79th Legislature, Regular Session (2005). Under §824.2045 prior to amendment, to be eligible to select a partial lump-sum distribution, a member must be eligible for an unreduced service retirement annuity under §824.202(a), Government Code, as it existed prior to amendment effective September 1, 2005, and must not be participating in the deferred retirement option plan under Subchapter E of this chapter.

Source Note: The provisions of this §29.72 adopted to be effective December 29, 2005, 30 TexReg 8699