1. (a) Actuarial assumptions, mortality tables, and reduction factors used for calculation of benefits are those adopted by the board and apply to forms and effective dates of annuities specified by the board. Such assumptions, tables, and factors are incorporated in this rule by reference and are a part of this rule for all purposes. Copies of the tables are available from the executive director of the Employees Retirement System of Texas at 18th and Brazos Streets, P.O. Box 13207, Austin, Texas 78711-3207.
2. (b) The 1999 reduction factors for optional forms of retirement annuities apply to retirements effective on or after September 30, 1999, and are those factors adopted by the board December 8, 1999, based on assumptions adopted by the board December 9, 1998. The factors apply to annuities payable January 1, 2000, and thereafter.
3. (c) The actuaries have developed reduction factors for early retirement or death in accordance with the mortality tables adopted by the board. Such tables are incorporated in this rule by reference and are a part of this rule for all purposes.
4. (d) Reduction factors for the partial lump sum option apply to retirements effective on or after January 1, 2000, and are those factors adopted by the board December 8, 1999, based on assumptions adopted by the board December 9, 1998.
5. (e) Reduction factors for a standard nonoccupational disability retirement annuity apply to a disability retirement application received by the System on or after September 1, 2005, and are those factors adopted by the board on August 24, 2005, based on assumptions adopted by the board on December 10, 2003.
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Source Note:The provisions of this §73.21 adopted to be effective September 21, 1981, 6 TexReg 3427; amended to be effective April 26, 1983, 8 TexReg 1217; amended to be effective January 11, 1984, 8 TexReg 5533; amended to be effective April 18, 1984, 9 TexReg 1894; amended to be effective December 14, 1987, 12 TexReg 4533; amended to be effective November 23, 1989, 14 TexReg 5934; amended to be effective January 10, 1991, 16 TexReg 42; amended to be effective December 13, 1991, 16 TexReg 6937; amended to be effective April 20, 1994, 19 TexReg 2550; amended to be effective January 9, 2000, 24 TexReg 12072; amended to be effective September 15, 2005, 30 TexReg 5809.