1. (a) A person retired under a service retirement annuity may again become an active member, receive additional membership service credit, and re-retire under provisions of the retirement formula then in effect provided the retiree meets the following requirements:

   1. (1) returns to service in a covered position and renders two consecutive creditable years of service in an eligible position;
   2. (2) deposits an amount equal to the retirement benefits he has received plus a reinstatement fee of 6.0% compounded annually from the date of his return to covered employment to the date of redeposit;
   3. (3) deposits an amount equal to the percentage of each year's annual compensation which would have been deducted had the person been an active member of the retirement system after his or her return to employment plus a reinstatement fee of 6.0% compounded annually on each year's annual contribution computed from the end of each respective year of service to the date of deposit;
   4. (4) pays membership fees for each year of service after his return to employment.
2. (b) Employment after retirement for which benefits were not suspended will not constitute eligible service under this section.

Source Note:The provisions of this §31.11 adopted to be effective January 1, 1976; amended to be effective September 26, 1979, 4 TexReg 3308; amended to be effective October 1, 1982, 7 TexReg 3368; amended to be effective February 1, 1989, 14 TexReg 317.