No. H-1060 (1977).

• Case Date: September 23, 1977
• Court: Texas

Texas Attorney General Opinions 1977. No. H-1060 (1977). September 23, 1977Opinion No. H-1060Hill Opinion No. H-1060 Office of the Attorney General State of TexasHonorable E. J. Voorhis Acting Director State Board of Insurance 1110 San Jacinto Austin, Texas 78786SYLLABUS: 1977-1060 Re: Change of optional retirement program contracts or carriers. Dear Mr. Voorhis: Your office has asked if sections 51.352(6) and 57.358 of the Texas Education Code prevent optional retirement program (hereafter ORP) participants from using benefits accrued under an ORP contract to fund a different ORP contract offered by the same carrier or by a different one. It is the responsibility of the governing body of each Texas institution of higher education to administer an optional retirement program and to provide for the purchase of annuity contracts from a variety of qualified carriers. Education Code ss 51.353; 51.354. The purpose is to provide retirement benefits to teachers and administrators at state supported institutions of higher education. Education Code s 51.351; Attorney General Opinion H-532 (1975). Of the two Education Code sections you cite, the first, section 51.352, reads: In this subchapter: . . . . (6) 'Optional Retirement Program' means the program under this Subchapter to provide fixed or variable retirement annuities which meet the requirements of . . . [certain sections of the Internal Revenue Code of 1954], and the benefits of such annuities are to be available only upon termination of employment in the Texas public institutions of higher education, retirement, death or total disability of the participating faculty member. (Emphasis added). The other, section 51.358, reads: Participation in the Optional Retirement Program shall terminate and the benefits of such annuities will be available only if the participant (1) Dies; (2) Terminates his emplolyment due to total disability; (3) Accepts retirement; (4) Terminates employment in the Texas public institutions of higher education. . . . Transfers between such institutions mentioned in this section and changes in carriers shall not constitute termination of employment. An institution of higher education shall accept the transfer of any participant's Optional Retirement Program. (Emphasis added). In Attorney General Opinion H-532 (1975) at 3, we said section 51.358 constitutes an...