A member who makes affidavit that he or she has permanently terminated employment with any TRS-covered employer but who is so employed or who contracts for such employment before TRS mails the refund shall not be entitled to the refund. If the refund is made because the retirement system is not aware of the continued employment, necessary steps will be taken to secure the redeposit of the withdrawn account. No benefits will be paid until this withdrawn account is returned to the retirement system. If an ineligible refund is not returned before August 31 of the plan year in which the withdrawal occurred, a reinstatement fee as described in §27.6 of this title (relating to Reinstatement of an Account) shall apply.

Source Note:The provisions of this §27.3 adopted to be effective January 1, 1976; amended to be effective June 6, 1999, 24 TexReg 4247; amended to be effective March 12, 2003, 28 TexReg 2102; amended to be effective March 8, 2007, 32 TexReg 1086.