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 § 25.184
Current through Reg. 49, No. 52; December 27, 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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