Texas Administrative Code
Title 34 - PUBLIC FINANCE
Part 3 - TEACHER RETIREMENT SYSTEM OF TEXAS
Chapter 25 - MEMBERSHIP CREDIT
Subchapter N - INSTALLMENT PAYMENTS
Section 25.184 - Refund for Nonpayment
Universal Citation: 34 TX Admin Code ยง 25.184
Current through Reg. 49, No. 38; September 20, 2024
(a) The Teacher Retirement System of Texas (TRS) may refund installment payments already made, but not credited towards service, if:
(1) an
installment payment is not made in full within 60 days after the due
date;
(2) two or more consecutive
monthly payments have been made through a check on an account with insufficient
funds or a closed account or through an automatic bank draft for which
insufficient funds were available;
(3) a member notifies TRS in writing that he
will no longer make payments pursuant to the installment schedule and requests
a refund of amounts previously paid; or
(4) the number of partial payments becomes
excessive.
(b) If TRS refunds payments to a member pursuant to this section and the member later makes payment by lump sum payment or by the installment method for the same service credit for which the refund was made, any fees required by law or rule will be calculated using the new date of payment rather than the date of initial participation in the installment payment method.
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