Texas Government Code 838.106 – Credit for Year in Which Eligible for Office
Current as of: 2024 | Check for updates
|
Other versions
(a) A member may establish service credit in the retirement system for any calendar year during which the member held an office included in the membership of the retirement system.
Terms Used In Texas Government Code 838.106
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Month: means a calendar month. See Texas Government Code 312.011
- Year: means 12 consecutive months. See Texas Government Code 311.005
(b) A member may establish service credit under this section by depositing with the retirement system a contribution computed for each month of credit claimed at the rate of six percent of the member’s current monthly salary, plus, if the member does not establish credit before the first anniversary of the date of first eligibility, interest computed on the basis of the state fiscal year at an annual rate of 10 percent from the date of first eligibility to the date of deposit.
(c) For the purpose of Subsection (a), the term of a member leaving judicial office ends not later than December 31 regardless of the date on which the member’s successor takes the oath of office.