Pursuant to the authority of the board of trustees to act under Texas Government Code §854.007(j), and in accordance with the amendments to Section 415 of the Internal Revenue Code as set forth in Public Law 104-188, the annual benefit payable under Subtitle G of Title 8 of the Texas Government Code (the Act) shall not be reduced under §854.007 of the Act except in conformity with those limitations on the payment of benefits set forth in the Internal Revenue Code as that Code applies from time to time to the Texas Municipal Retirement System. For years beginning after December 31, 1994:

1. (1) The limitation on the payment of benefits by the retirement system on behalf of a person who has retired under the Act shall be determined without regard to §854.007(d)(2).

2. (2) The limitation on the payment of benefits by the retirement system to:

   1. (A) the survivor, beneficiary, or estate of any deceased former member; or
   2. (B) a former member who has retired under the disability retirement provisions of the Act shall be determined without regard to §854.007(d)(2) and §854.007(e).

Source Note:The provisions of this §127.4 adopted to be effective January 7, 1997, 21 TexReg 12564.