Effective January 1, 1996, for individuals who first became members of the system on or after January 1, 1996, the amount of compensation used to determine the retirement benefit of a member must not exceed the amount of compensation permitted to be taken into account under the plan and Internal Revenue Code §401(a)(17) as then in effect and as amended, indexed in the same manner and for the same periods as provided by that section. The limits under Internal Revenue Code §401(a)(17) shall not apply to individuals who first became members of the system before January 1, 1996.

Source Note: The provisions of this §127.8 adopted to be effective August 1, 2023, 48 TexReg 4124