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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 8. PUBLIC RETIREMENT SYSTEMS |
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Subtitle E. JUDICIAL RETIREMENT SYSTEM OF TEXAS PLAN TWO |
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Chapter 840. ADMINISTRATION |
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Subchapter E. MISCELLANEOUS ADMINISTRATIVE PROCEDURES |
Sec. 840.401. TRANSFER OF ACCUMULATED CONTRIBUTIONS IN CERTAIN CIRCUMSTANCES
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(a) Except as provided by Subsection (b), if a valid application for payment based on money or credit in a member's individual account in the retirement system is not filed with the retirement system before the expiration of five years after the last day of the most recent month of service for which the member has credit in the retirement system, the retirement system shall mail a notice to the member at the member's most recent address as shown on system records. If no address is available or if the notice is returned unclaimed, the retirement system shall cause a notice to be published in a newspaper of general circulation in the state.
(b) This section does not apply to an account of a member who has enough service credit in the retirement system to enable the member to retire at an attained age.
(c) A notice under this section must include the name of the member, the name of the court or commission on which the member most recently acquired service credit, a statement that the member is entitled to a payment of money, and a statement of the procedure for keeping the member's account open or claiming a payment.
(d) Before the 31st day after the day a notice is mailed or published under this section, whichever is later, an application must be filed with the retirement system:
(1) by the member, requesting that the account be kept open; or
(2) by the member or, if the member has died, by any other person entitled to payment based on the member's account, requesting payment based on money or credit in the account.
(e) If a valid application is made as provided by Subsection (d)(2), the retirement system shall pay the applicant any benefit to which the applicant is entitled.
(f) If a valid application is not made as provided by Subsection (d), the retirement system shall cancel the service credit in the member's account, transfer the accumulated contributions in the account to an appropriate account, and close the member's account.
(g) Except as provided by Subsection (j), if a person files with the retirement system a valid application for payment based on a closed account the accumulated contributions of which have been transferred under Subsection (f), the retirement system shall reopen the member's individual account, reinstate in the account the amount transferred and credit canceled, and pay any benefit to which the applicant is entitled.
(h) Except as provided by Subsection (j), if a person whose accumulated contributions have been transferred under Subsection (f) again becomes a member, the retirement system shall reinstate in the member's active individual account in the retirement system the amount transferred and credit canceled.
(i) Except as provided by Subsection (j), if a person whose accumulated contributions have been transferred under Subsection (f) would be eligible to receive a benefit from the retirement system under Chapter 803 were the person's account not closed, the person may file with the retirement system an application for retirement, and the retirement system shall reopen the person's account and reinstate the canceled credit for the purpose of allowing the person to retire.
(j) A payment under Subsection (g), a reinstatement under Subsection (h), or a retirement under Subsection (i) precludes action under any other of those subsections.
(k) If a member makes an application as provided by Subsection (d)(1), the retirement system, after the fifth anniversary of the date the application was filed, shall reinstitute the process provided by Subsections (a), (c), (d), (e), and (f) if disposition of money and credit in the account has not been made before that time.
(l) The retirement system may apply the process provided by Subsections (a), (c), (d), (e), and (f) to other money it holds for payment if the system first determines that no claim for the money is likely to be filed.