1. (a) A member is eligible to retire and receive a service retirement annuity with full benefits from the pension system when the member has at least 15 years of qualified service credited in the system and has attained the age of 55.

2. (b) Partial vesting to receive a service retirement annuity accrues at the following rates:

   1. (1) 25 percent after the first five years of credited qualified service;
   2. (2) five percent a year for the next five years of credited qualified service; and
   3. (3) 10 percent a year for the next five years of credited qualified service.
3. (c) Vested retirement benefits, including partially vested benefits, are nonforfeitable. A retirement benefit also becomes nonforfeitable when a member attains normal retirement age or, to the extent funded, on the termination or partial termination of the pension system or the complete discontinuance of contributions to the pension system.

Source Note:The provisions of this §308.1 adopted to be effective October 2, 2005, 30 TexReg 6062.