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RULE §85.15 Termination and Amendment of Plan

Published: 2015

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(a) Termination of plan. The plan is intended to be permanent; however, it may be terminated if the board of trustees determines that the plan is no longer advantageous to the state or state and institution of higher education employees. In such case, the board of trustees may adopt an order terminating the plan and providing a procedure for the orderly withdrawal of the state and its employees from the Flexible Benefits Program. (b) Preservation of rights. Termination or amendment of the plan shall not affect the rights of any participant to claim reimbursement for expenses incurred prior to such termination or amendment, to the extent such amount is payable under the terms of the plan, prior to the effective date of such termination or amendment.

Source Note: The provisions of this §85.15 adopted to be effective August 12, 1988, 13 TexReg 3754; amended to be effective September 1, 1992, 17 TexReg 2874.