reglab/housing_qa huggingface dataset:
TX Civ Stat § 8.07 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 8. Deferred Retirement Option Plan|Section 8.07. Payments From Drop Account at Member's Death

Sec. 8.07. PAYMENTS FROM DROP ACCOUNT AT MEMBER'S DEATH.    (a)  The provisions of Article 7 relating to death benefits of qualified survivors do not apply to amounts credited to a member's DROP account.  Instead, a member who participates in the DROP may designate a beneficiary to receive any balance in the member's DROP account at the member's death.  The beneficiary designation must be made on a form prescribed by the board of trustees and filed with the fund before the member's death.  If the member is married at the time of the designation, designation of a beneficiary other than the member's spouse is valid only if the spouse consents to the designation in writing on the same form that is used to designate the beneficiary.  Distributions from a member's DROP account after the death of the member shall be made as provided by this section.(b)  If a member who participates in the DROP dies before distribution of the member's entire DROP account, distributions to the designated beneficiary will begin not more than one year after the date of the member's death and shall be made either as a single-payment distribution of the member's DROP account balance or in not more than four equal annual installments over a period of not more than 37 months.(c)  If the member has not designated a beneficiary to receive distributions from the member's DROP account or if the person so designated does not survive the member by at least 72 hours, the member's DROP account shall be distributed in a single-sum payment as soon as administratively possible after the member's death to any surviving spouse who survives the member by at least 72 hours, if any, or to the member's estate if there is no surviving spouse.
TX Civ Stat § 8.08 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 8. Deferred Retirement Option Plan|Section 8.08. Subsequent Disability of Drop Participant

Sec. 8.08. SUBSEQUENT DISABILITY OF DROP PARTICIPANT.  A member who participates in the DROP becomes ineligible for any disability benefits described by Article 6 of this Act.  Instead, if the board of trustees determines that the member would have been eligible for disability retirement, the board of trustees shall grant a normal service retirement annuity as described by Section 5.04 of this Act and shall pay the member both the service retirement annuity and a distribution of the DROP account as described by Section 8.05 of this Act.
TX Civ Stat § 8.09 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 8. Deferred Retirement Option Plan|Section 8.09. Retirement Benefit Payable to Drop Participant

Sec. 8.09. RETIREMENT BENEFIT PAYABLE TO DROP PARTICIPANT.  The retirement benefit payable under Article 5 or 6 of this Act to a person who participates in the DROP:(1) may not be increased as a result of any increase in the formula used in computing service retirement benefits under Section 5.04 of this Act that occurs after the effective date of the member's election to participate in the DROP;(2) may not be increased as a result of any increase in the member's compensation that occurs after the effective date of the member's election to participate in the DROP;(3) shall be increased by any annual cost-of-living adjustments under Section 9.04 of this Act that occur between the effective date of the member's election to participate in the DROP and the effective date of the member's retirement;(4) may not be increased for additional service credit after the effective date of the member's election to participate in the DROP;  and(5) is subject to the limitations prescribed by Section 9.03 of this Act.
TX Civ Stat § 8.10 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 8. Deferred Retirement Option Plan|Section 8.10. Termination or Modification of Drop by Fund

Sec. 8.10. TERMINATION OR MODIFICATION OF DROP BY FUND.  If the board's actuary, not sooner than January 1, 2000, certifies to the board that DROP participation is resulting in a significant actuarial loss to the fund, the board of trustees may:(1) reduce the interest paid on DROP accounts or take other action that would reduce the future credits to DROP accounts, but only for all DROP accounts that are established after the effective date of the action by the board of trustees;  or(2) terminate the deferred retirement option plan for all members who have not at that time established a DROP account.
TX Civ Stat § 9.01 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.01. Time for Payment to Retired Members

Sec. 9.01. TIME FOR PAYMENT TO RETIRED MEMBERS.  Benefits to a person who retires under this Act are payable on the first day of each month beginning with the month following the month in which the person retires.
TX Civ Stat § 9.02 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.02. Time for Payment to Survivors; Payment to Estate

Sec. 9.02. TIME FOR PAYMENT TO SURVIVORS;  PAYMENT TO ESTATE.  Benefits to a surviving spouse, dependent child, or dependent parent under this Act are payable on the first day of each month beginning with the month following the month in which the death of the member or former firefighter occurs.  After all payments cease, any amount by which the member's or former firefighter's total accumulated contributions at the date of that person's death exceed the amount of all retirement and death benefits paid by the fund as a result of the person's participation in the fund is payable to the estate of the member or former firefighter.
TX Civ Stat § 9.03 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.03. Limitation on Payment of Benefits

Sec. 9.03. LIMITATION ON PAYMENT OF BENEFITS.    (a)  If the amount of any benefit payment under this Act would exceed the limitations provided by Section 415 of the Internal Revenue Code of 1986, and the regulations adopted under that section, the board of trustees shall reduce the amount of the benefit as needed to comply with that section.(b) A person's vested accrued benefit in effect on September 1, 1995, may not be reduced under this section.
TX Civ Stat § 9.06 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.06. Withdrawal of Contributions

Sec. 9.06. WITHDRAWAL OF CONTRIBUTIONS.    (a)  A living person who has terminated all employment with the fire department and who has not retired may withdraw, on application, all of the accumulated contributions credited to that person's individual account with the fund in excess of the amount of benefits that the person previously has received from the fund.  On withdrawal, the person's account will be closed and all service credit the person has accumulated will be canceled.(b) If a member dies before retirement and no person is entitled to a survivor's benefit under this Act, the person's estate may, after application, withdraw all of the accumulated contributions credited to that person's individual account with the fund in excess of the amount of benefits that the person previously has received from the fund.
TX Civ Stat § 9.07 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.07. Escheat of Contributions

Sec. 9.07. ESCHEAT OF CONTRIBUTIONS.  If an application for withdrawal of contributions under Section 9.06 of this Act from or on behalf of a person who has ceased to be an employee of the fire department or the person's estate has not been received by the fund before the seventh anniversary of the termination of the person's employment with the fire department for a reason other than retirement, the person's accumulated contributions shall escheat to the fund.  If the person or the person's estate later applies for the contributions, the fund shall refund the contributions regardless of the earlier escheatment.
TX Civ Stat § 9.08 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.08. Insufficient Funds; Prorated Reduction in Benefits

Sec. 9.08. INSUFFICIENT FUNDS;  PRORATED REDUCTION IN BENEFITS.  If for any reason the funds available for any purpose covered by this Act become insufficient to pay in full any benefit payable under this Act, all benefits being paid by the fund shall be reduced pro rata for the time the deficiency exists.
TX Civ Stat § 9.09 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.09. Reduction in Benefit Payments on Request

Sec. 9.09. REDUCTION IN BENEFIT PAYMENTS ON REQUEST.  If a person receiving a benefit from the fund requests in writing that the amount of the benefit be reduced to a specified monthly amount, the fund will pay the lesser amount specified in the request.  If the person subsequently requests in writing that the benefit be increased to any specified amount that does not exceed the amount originally payable, the fund will pay the increased amount specified.  If a person receiving a benefit from the fund requests in writing that payment of the benefit be discontinued, the fund shall discontinue payment of the benefit.  If the person subsequently requests that payment of the benefit be resumed, the fund shall resume payment of the benefit.  Any amounts not paid by the fund pursuant to a request under this section are forfeited to the fund and are not recoverable by any person.
TX Civ Stat § 9.10 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 9. Miscellaneous Provisions Regarding Benefits|Section 9.10. Optional Retirement Annuity

Sec. 9.10. OPTIONAL RETIREMENT ANNUITY.    (a)  An optional retirement annuity is an annuity that is certified by the board's actuary to be the actuarial equivalent of the annuity provided under Section 5.04 of this Act and the survivor's benefits provided under Article 7 of this Act.  An optional retirement annuity is payable throughout the life of the retiree.(b) Instead of the annuity payable under Section 5.04 of this Act, a member who retires may elect to receive an optional retirement annuity approved by the board of trustees under this section.(c) The survivor's benefits provided under Article 7 of this Act are not payable on the death of a retiree who elects an optional retirement annuity under this section.(d) The board of trustees by rule may provide that:(1) an optional retirement annuity is payable after a member's death throughout the life of a person designated by the member;  or(2) if a retiree dies before a fixed number of monthly annuity payments are made, the remaining number of payments are payable to the retiree's designated beneficiary or, if a designated beneficiary does not exist, to the retiree's estate.(e) To elect an optional retirement annuity, a member must make the election and designate a beneficiary on a form prescribed by the board of trustees.  The member must file the form with the board on or before the effective date of the member's retirement.(f) Except as provided by Subsections (g), (h), and (i) of this section, if a member elects an optional retirement annuity that, on the member's death, pays to the member's spouse an amount that is less than 75 percent of the annuity that is payable during the joint lives of the member and the member's spouse, the spouse must consent to the election.  The spouse's consent must be in writing and witnessed by an officer or employee of the fund or acknowledged by a notary public.(g) If a member's spouse has been adjudicated incompetent, the consent required under Subsection (f) of this section may be given by the spouse's guardian.(h) If a physician determines that a member's spouse is not mentally capable of managing the spouse's affairs, the consent required under Subsection (f) of this section may be given by the member if the member would be qualified to serve as a guardian of the spouse and the board of trustees determines that a guardianship of the estate is not necessary.(i) Spousal consent under Subsection (f) of this section is not required if the board of trustees determines that:(1) a spouse does not exist;(2) the spouse cannot be located;(3) the first anniversary of the marriage will not occur before the date the annuity first becomes payable;  or(4) a former spouse is entitled to receive a portion of the member's optional retirement benefit under a qualified domestic relations order.
TX Civ Stat § 10.02 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 10. Collection of Contributions; Interest|Section 10.02. Pickup of Firefighter Contributions

Sec. 10.02. PICKUP OF FIREFIGHTER CONTRIBUTIONS.  A municipality to which this Act applies shall pick up the firefighter contributions to the fund that are required or authorized pursuant to Section 10.01 of this Act, whichever is higher.  Firefighter contributions will be picked up by a reduction in the monetary compensation of the firefighters.  Contributions picked up shall be treated as employer contributions in accordance with Section 414(h)(2) of the Internal Revenue Code  for the purpose of determining tax treatment of the amounts under that code.  These contributions will be deposited to the credit of the individual accounts of the firefighters in the fund and shall be treated as the monthly contributions of the firefighters for all purposes of this Act.  These contributions are not includable in the gross income of a firefighter until the time that they are distributed or made available to the firefighter or survivors of the firefighter.  The board of trustees may at any time, by majority vote, discontinue the pickup of firefighter contributions by the municipality.
TX Civ Stat § 10.03 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 10. Collection of Contributions; Interest|Section 10.03. Contributions and Income as Assets of Fund

Sec. 10.03. CONTRIBUTIONS AND INCOME AS ASSETS OF FUND.  All contributions paid to the fund under Sections 10.01 and 10.02 of this Act become a part of the assets of the fund.  All interest and dividends on investments of the assets of the fund shall be deposited into the fund and are part of it.
TX Civ Stat § 10.04 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 10. Collection of Contributions; Interest|Section 10.04. Interest on Individual Accounts

Sec. 10.04. INTEREST ON INDIVIDUAL ACCOUNTS.  The fund shall credit interest on December 31 of each year to the account of each firefighter, and of each former firefighter, who has not retired in an amount equal to five percent of the accumulated contributions, including previously credited interest, on deposit on January 1 of that year.  The fund may not pay interest on a firefighter's or former firefighter's contributions for part of a year or for any period that is more than five calendar years after the date of termination of employment.
TX Civ Stat § 11.01 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 11. Investment of Assets|Section 11.01. Investments

Sec. 11.01.  INVESTMENTS. The board of trustees in its sole discretion may invest, reinvest, or change the assets of the fund. The board of trustees shall invest the funds in whatever instruments or investments the board considers prudent. In making investments for the fund, the board of trustees shall discharge its duties with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity and familiar with such matters would use in the conduct of an enterprise of a similar character and with similar aims.
TX Civ Stat § 11.02 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 11. Investment of Assets|Section 11.02.

Sec. 11.02. Repealed by Acts 1997, 75th Leg., ch. 30, Sec. 9, eff. Sept. 1, 1997.
TX Civ Stat § 11.03 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 11. Investment of Assets|Section 11.03. Investment Policy

Sec. 11.03.  INVESTMENT POLICY.  (a)  The board of trustees shall adopt and maintain a written investment policy regarding the investment of fund assets.(b)  The board of trustees may not adopt an amendment to the investment policy adopted under this section unless the proposed amendment is approved by the affirmative vote of a majority of the members of the board at not fewer than three regular meetings of the board.
TX Civ Stat § 11.04 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 11. Investment of Assets|Section 11.04. Fiduciaries

Sec. 11.04. FIDUCIARIES.    (a)  A person or financial institution is a fiduciary of the fund to the extent that the person or the financial institution:(1) exercises any discretionary authority or discretionary control over management of the fund or exercises any authority or control over management or disposition of the assets of the fund;(2) renders or has authority or responsibility to render investment advice for a fee or other compensation, direct or indirect, concerning any money or other property of the fund;  or(3) has any discretionary authority or discretionary responsibility over the administration of the fund.(b) A fiduciary of the fund may not cause the fund to engage in a transaction if the fiduciary knows or should know that the transaction constitutes a direct or indirect:(1) sale, exchange, or lease of any property from the fund to a party for less than adequate consideration or from a party to the fund for more than adequate consideration;(2) loan of money or other extension of credit from the fund to a party without the receipt of adequate security and a reasonable rate of interest or from a party to the fund with provision of excessive security or an unreasonably high rate of interest;(3) furnishing of goods, services, or facilities from the fund to a party for less than adequate consideration or from a party to the fund for more than adequate consideration;  or(4) transfer to or use by or for the benefit of a party of any assets of the fund for less than adequate consideration.(c) A fiduciary of the fund may not:(1) deal with the assets of the fund in the fiduciary's own interest or for the fiduciary's own account;(2) in the fiduciary's individual or any other capacity act in any transaction involving the fund on behalf of a party whose interests are adverse to the interests of the fund or the interests of its participants or beneficiaries;  or(3) receive any consideration for the fiduciary's own personal account from any party dealing with the fund in connection with a transaction involving the assets of the fund.(d) The board of trustees may purchase insurance indemnifying the members of the board of trustees against personal loss or accountability from liability resulting from a member's act or omission as a member of the board of trustees.
TX Civ Stat § 12.01 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 12. Officers, Employees, and Professionals|Section 12.01. Administrator and Employees

Sec. 12.01. ADMINISTRATOR AND EMPLOYEES.  The board of trustees shall appoint an administrator who shall administer the fund under the supervision and direction of the board of trustees.  The board of trustees shall employ such other employees as are required for the efficient administration of the fund.
TX Civ Stat § 12.02 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 12. Officers, Employees, and Professionals|Section 12.02. Legal Counsel

Sec. 12.02. LEGAL COUNSEL.  The board of trustees shall retain legal counsel for matters affecting the operation of the fund.
TX Civ Stat § 12.03 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243e.1. Firefighters Relief and Retirement Fund in Cities of 450,000 to 500,000|Article 12. Officers, Employees, and Professionals|Section 12.03. Actuary

Sec. 12.03. ACTUARY.    (a)  The board of trustees shall employ an actuary who may be the consultant and technical advisor to the board of trustees regarding the operation of the fund and may perform such duties as may be required by the board.(b) The actuary shall make a valuation at least once every two years of the assets and liabilities of the fund on the basis of assumptions and methods that are reasonable in the aggregate, considering the experience of the fund and reasonable expectations and that, in combination, offer the actuary's best estimate of anticipated experience under the fund.(c) On the basis of the valuation, the actuary shall make recommendations to the board of trustees to ensure the actuarial soundness of the fund.  In making recommendations, the actuary shall define each actuarial term and enumerate and explain each actuarial assumption used in making the valuation.  This information must be included either in the actuarial study or in a separate report made available as a public record.(d) The board of trustees shall file with the State Pension Review Board a copy of each actuarial study and each separate report made as required by law.(e) An actuary employed under this section must be a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, or an enrolled actuary under the federal Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.).(f) The municipality may pay all or part of the cost of the actuarial services.  Any cost not paid directly by the municipality is payable from assets of the fund.