Subject to procedures developed by the Employees Retirement System of Texas (ERS), the ERS shall accept an eligible rollover distribution or a direct transfer of funds from another qualified plan or conduit IRA in payment of all or a portion of any deposit a member is permitted to make with the ERS for credit for service. The procedures developed by the ERS shall condition the acceptance of a rollover or transfer from another plan or conduit IRA on the receipt from the other plan or conduit IRA of information necessary to enable the ERS to determine the eligibility of any transferred funds for tax-free rollover treatment or other treatment under federal income tax law.

Source Note:The provisions of this §71.23 adopted to be effective August 4, 1997, 22 TexReg 6940.