Subject to procedures developed by the Employees Retirement System of Texas (ERS), ERS shall accept an eligible rollover distribution or a direct transfer of funds from another qualified plan or conduit or traditional IRA in payment of all or a portion of any deposit a member is permitted to make with ERS for credit for service. The procedures developed by ERS shall condition the acceptance of a rollover or transfer from another qualified plan or conduit or traditional IRA on the receipt from the other plan, or conduit or traditional IRA of information necessary to enable ERS to determine the eligibility of any transferred funds for tax-free rollover treatment or other treatment under federal income tax law.

Source Note: The provisions of this §71.23 adopted to be effective August 4, 1997, 22 TexReg 6940; amended to be effective June 10, 2014, 39 TexReg 4485