(a) Any eligible retiree who selects a partial lump-sum option will receive an actuarially reduced annuity to reflect the selection of the lump-sum option. TRS will use Factor Tables for Partial Lump-Sum Option Payments furnished by the TRS actuary of record. Attached Graphic
(b) The member's age in whole years will be used from column one and the percentage of standard annuity factor from column three, four, or five depending on the number of months of lump-sum selected, will be used to determine the percentage of standard annuity that will be paid to a person who elects to participate in the partial lump-sum option plan.34 Tex. Admin. Code § 29.71
The provisions of this §29.71 adopted to be effective October 28, 1999, 24 TexReg 9298; Amended by Texas Register, Volume 44, Number 32, August 9, 2019, TexReg 4188, eff. 9/1/2019; Amended by Texas Register, Volume 48, Number 33, August 18, 2023, TexReg 4521, eff. 9/1/2023