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 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 prior to September 30, 2009, 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 first payable January 1, 2000 through August 31, 2009. The 2009 reduction factors for optional forms of retirement annuities apply to retirements effective on or after September 30, 2009, and are those factors adopted by the board on February 24, 2009, based on assumptions adopted by the board on May 13, 2008. The 2009 reduction factors apply to retirements first effective on or after September 30, 2009, and before September 1, 2014. The 2014 reduction factors for optional forms of retirement annuities apply to retirements effective on or after September 1, 2014, and are those tables adopted by the board on February 25, 2014, based on assumptions adopted by the board on February 26, 2013, and further based on legislative changes to the retirement plan effective September 1, 2013. For retirements prior to September 1, 2014, the previously adopted factors apply.
3. (c) The actuaries have developed reduction factors for early retirement or death in accordance with the mortality tables adopted by the board. The 2009 reduction factors for early retirement or death apply to retirements effective on or after September 30, 2009, and apply to deaths first reported to ERS on or after September 1, 2009, and are those factors adopted by the board on February 24, 2009, based on assumptions adopted by the board on May 13, 2008. The 2010 reduction factors for early retirement or death apply only to those employees hired by the state of Texas on or after September 1, 2009, as defined in §73.2(c) of this chapter (relating to Determination of Date of Hire for Retirement Benefit Eligibility). The 2010 reduction factors apply to retirements effective on or after September 30, 2010, and apply to deaths first reported to ERS on or after September 1, 2010, and are those factors adopted by the board on February 23, 2010, based on legislative changes to the retirement plan effective September 1, 2009. The 2014 reduction factors for early retirement or death apply to retirements effective on or after September 1, 2014, and deaths first reported to ERS on or after September 1, 2014, and are those tables adopted by the board on February 25, 2014, based on assumptions adopted by the board on February 26, 2013, and on legislative changes to the retirement plan effective September 1, 2013. For retirements prior to September 1, 2014 and deaths first reported to ERS prior to September 1, 2014, the previously adopted factors apply.
4. (d) The 2000 reduction factors for the partial lump sum option apply to retirements effective on or after January 1, 2000 through August 31, 2009, and are those factors adopted by the board December 8, 1999, based on assumptions adopted by the board December 9, 1998. The 2009 reduction factors for the partial lump sum option apply to retirements effective on or after September 30, 2009 and deaths first reported to ERS on or after September 1, 2009, and are those factors adopted by the board on February 24, 2009, based on assumptions adopted by the board on May 13, 2008. The 2014 reduction factors for partial lump sum option apply to a retirement effective on or after September 1, 2014, and are those tables adopted by the board on February 25, 2014, based on assumptions adopted by the board on February 26, 2013, and on legislative changes to the retirement plan effective September 1, 2013. For retirements occurring prior to September 1, 2014 and deaths first reported to ERS prior to September 1, 2014, the previously adopted factors apply.
5. (e) The 2005 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. The 2009 reduction factors for a standard nonoccupational disability retirement annuity apply to a disability retirement based on the effective date of a retirement that is effective on or after September 30, 2009, and are those factors adopted by the board on February 24, 2009, based on assumptions adopted by the board on May 13, 2008. The 2010 reduction factors for a standard nonoccupational disability retirement annuity apply only to those employees hired by the state of Texas on or after September 1, 2009, as defined in §73.2(c) of this chapter. The 2010 reduction factors apply to a disability retirement based on the effective date of a retirement that is effective on or after September 30, 2010, and are those factors adopted by the board on February 23, 2010, based on legislative changes to the retirement plan effective September 1, 2009. The 2014 reduction factors for a standard nonoccupational disability retirement annuity apply to a disability retirement based on the effective date of a retirement that is on or after September 1, 2014, and are those tables adopted by the board on February 25, 2014, based on assumptions adopted by the board on February 26, 2013, and on legislative changes to the retirement plan effective September 1, 2013. For disability retirements based on an effective date of retirement that is effective prior to September 1, 2014, the previously adopted factors apply.

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; amended tobe effective June 9, 2009, 34 TexReg 3517; amended to be effective March 15, 2010, 35 TexReg 2201; amended to be effective June 14, 2010, 35 TexReg 5041; amended to be effective June 10, 2014, 39 TexReg 4486.