1. (a) Each member of the retirement system who is employed full-time by a public school district in this state, with the first contribution to the member savings account of the retirement fund in each fiscal year, must pay to the retirement system the annual insurance contingency reserve fee required by Chapter 812, §44(d), Acts of the 73rd Legislature, 1993. The member must pay the fee in the same manner as provided by the Government Code, §825.403, for the payment of membership contributions.
2. (b) The executive director may establish further procedures to be followed in reporting and depositing the fee in accordance with law and this section.
3. (c) For the purposes of this rule, full-time employment is that employment defined in §25.1 of this title (relating to Full-time Service) as regular, full-time service eligible for membership in the retirement system.
4. (d) For the purposes of this rule, public school district shall be any employer whose employees are covered by the retirement system but are not covered by a group health insurance program for state employers or employees of public institutions of higher education.

Source Note:The provisions of this §41.11 adopted to be effective January 12, 1994, 19 TexReg 86.