1. (a) An eligible member may establish service credit for service performed during the waiting period as authorized by §813.514, Texas Government Code, and as provided in this section. The provisions of §71.14 of this chapter do not apply to service credit established under this section.

2. (b) A member is eligible to establish service credit under this section if the member:

   1. (1) holds a position in the employee class;
   2. (2) has completed the waiting period;
   3. (3) has made a retirement contribution in accordance with §813.201; and
   4. (4) makes application for the establishment of service credit and payment of the required contributions in accordance with procedures developed by ERS.
3. (c) An eligible member shall deposit with the system in a lump sum a contribution in the amount determined by the system to be the actuarial present value of the benefit attributable to the service credit established under this section. The tables recommended by the system's actuary and adopted by the board shall be used to determine the actuarial present value:
   Attached Graphic
   

4. (d) Actuarial present value shall be based on:

   1. (1) the member's age on the date of the deposit required by this subsection;
   2. (2) the earliest date on which the member will become eligible to retire and receive a service retirement annuity after establishing service credit under this section; and
   3. (3) the future employment, compensation, investment and retirement benefit assumptions recommended by the system's actuary and adopted by the board.
5. (e) Waiting period service credit shall be established in increments of one month.
6. (f) This section does not apply to service credit transferred as authorized by Texas Government Code, Chapter 805.
7. (g) A member who withdraws contributions and cancels service credit established under this section may not reestablish such credit under §813.102, Texas Government Code, but may again establish credit only as provided by this section.

Source Note:The provisions of this §71.31 adopted to be effective March 10, 2004, 29 TexReg 2372; amended to be effective January 10, 2006, 31 TexReg 168.