1. (a) Annuities with an effective date before September 1, 1995, that are based on service retirements or deaths pursuant to the Government Code, Title 8, §§814.104, 814.107, 814.301, 814.302, or 814.305, shall be adjusted pursuant to the following plan design changes:

   1. (1) current percentage value for each year of service credited at time of retirement;
   2. (2) current applicable reduction factors;
   3. (3) current minimum standard annuity;
   4. (4) current maximum service percentage value.
2. (b) Any adjustment pursuant to this section must be made to all annuitants who are similarly situated.
3. (c) This section supersedes conflicting portions of existing plan provisions.
4. (d) Adjustments to annuities under this section must be in compliance with the Internal Revenue Code of 1986, §401(a), and the Government Code, Title 8, §811.006.
5. (e) Annuities with an effective date of September 30, 1997, and later that are based on disability pursuant to the Government Code, Title 8, §814.206, and annuities based on service credited under Government Code, Title 8, §813.401, shall be adjusted to remove any actuarial reduction and to reflect the plan design changes provided by §814.105 effective September 1, 1997.

Source Note:The provisions of this §73.31 adopted to be effective January 1, 1992, 16 TexReg 7538; amended to be effective March 15, 1996, 21 TexReg 1774; amended to be effective September 15, 1997, 22 TexReg 9005.