reglab/housing_qa huggingface dataset:
TX Civ Stat § 1A (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 1A. Interpretation of Act

Sec. 1A.  INTERPRETATION OF ACT.  This Act does not and may not be interpreted to:(1)  relieve the city, the pension board, or the pension system of their respective obligations under Sections 8A through 8F of this Act;(2)  reduce or modify the rights of the city, the pension system, or the pension board, including any officer or employee of the city, pension system, or pension board, to enforce obligations described by Subdivision (1) of this subsection;(3)  relieve the city, including any official or employee of the city, from:(A)  paying or directing to pay required contributions to the pension system or fund under Section 8 or 8A of this Act or carrying out the provisions of Sections 8A through 8F of this Act; or(B)  reducing or modifying the rights of the pension board and any officer or employee of the pension board or pension system to enforce obligations described by Subdivision (1) of this section;(4)  relieve the pension board or pension system, including any officer or employee of the pension board or pension system, from any obligation to implement a benefit change or carry out the provisions of Sections 8A through 8F of this Act; or(5)  reduce or modify the rights of the city and any officer or employee of the city to enforce an obligation described by Subdivision (4) of this section.
TX Civ Stat § 1B (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 1B. Fiscal Year

Sec. 1B.  FISCAL YEAR.  If either the pension system or the city changes its respective fiscal year, the pension system and the city shall enter into a written agreement under Section 3(n) of this Act to adjust the provisions of Sections 8A through 8F of this Act to reflect that change for purposes of this Act.
TX Civ Stat § 1C (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 1C. Alternative Retirement Plans

Sec. 1C.  ALTERNATIVE RETIREMENT PLANS.  (a)  In this section, "salary-based benefit plan" means a retirement plan provided by the pension system under this Act that provides member benefits that are calculated in accordance with a formula that is based on multiple factors, one of which is the member's salary at the time of the member's retirement.(b)  Notwithstanding any other law, including Section 8H of this Act, and except as provided by Subsection (c) of this section, the pension board and the city may enter into a written agreement under Section 3(n) of this Act to offer an alternative retirement plan or plans, including a cash balance retirement plan or plans, if both parties consider it appropriate.(c)  Notwithstanding any other law, including Section 8H of this Act, and except as provided by Subsection (d) of this section, if, beginning with the final risk sharing valuation study prepared under Section 8B of this Act on or after July 1, 2027, either the funded ratio of the pension system is less than 60 percent as determined in the final risk sharing valuation study without making any adjustments under Section 8E or 8F of this Act, or the funded ratio of the pension system is less than 60 percent as determined in a revised and restated risk sharing valuation study prepared under Section 8B(a)(8) of this Act, the pension board and the city shall, as soon as practicable but not later than the 60th day after the date the determination is made:(1)  enter into a written agreement under Section 3(n) of this Act to establish a cash balance retirement plan that complies with Section 1D of this Act; and(2)  require each employee first hired by the city on or after the 90th day after the date the cash balance retirement plan is established to participate in the cash balance retirement plan established under this subsection instead of participating in the salary-based benefit plan, provided the employee would have otherwise been eligible to participate in the salary-based benefit plan.(d)  If the city fails to deliver the proceeds of the pension obligation bonds described by Section 8C(j)(1) of this Act within the time prescribed by that subdivision, notwithstanding the funded ratio of the pension system, the pension board and the city may not establish a cash balance retirement plan under Subsection (c) of this section.
TX Civ Stat § 1E (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 1E. Conflict of Law

Sec. 1E.  CONFLICT OF LAW.  To the extent of a conflict between this Act and any other law, this Act prevails.
TX Civ Stat § 2A (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 2A. Conflicts of Interest

Sec. 2A.  CONFLICTS OF INTEREST.  (a)  The existence or appearance of a conflict of interest on the part of any trustee is detrimental to the proper functioning of the pension system if not properly addressed.  An appointed trustee may not deliberate or vote on an action relating to the investment of pension system assets if:(1)  the trustee or an entity with which the trustee is affiliated:(A)  is a competitor or an affiliate of the person or firm that is the subject of or otherwise under consideration in the action; or(B)  likely would be subject to a due diligence review by the person or firm that is under consideration in the investment-related action; or(2)  the pension board otherwise determines that the proposed action would create a direct or indirect benefit for the appointed trustee or a firm with which the appointed trustee is affiliated.(b)  The city attorney shall:(1)  provide annual training to trustees appointed by the city regarding conflicts of interest; and(2)  to the extent authorized by city ordinances, at the request of the external affairs committee of the pension board, review and take appropriate action on a complaint alleging a conflict of interest on the part of a city-appointed trustee.
TX Civ Stat § 2B (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 2B. Pension System Actuary; Actuarial Valuations

Sec. 2B.  PENSION SYSTEM ACTUARY; ACTUARIAL VALUATIONS.  (a)  The pension board shall retain an actuary or actuarial firm for purposes of this Act.(b)  At least annually, the pension system actuary shall make a valuation of the assets and liabilities of the pension fund.  The valuation must include the risk sharing valuation study conducted under Section 8B or 8C of this Act, as applicable.(c)  The pension system shall provide a report of the valuation to the city.
TX Civ Stat § 2C (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 2C. Qualifications of City Actuary

Sec. 2C.  QUALIFICATIONS OF CITY ACTUARY.  (a)  An actuary hired by the city for purposes of this Act must be an actuary from a professional service firm who:(1)  is not already engaged by the pension system or any other pension system or fund authorized under Article 6243e.2(1) or 6243g-4, Revised Statutes, to provide actuarial services to the pension system or fund, as applicable;(2)  has a minimum of 10 years of professional actuarial experience; and(3)  is a fellow of the Society of Actuaries or a member of the American Academy of Actuaries and who, in carrying out duties for the city, has met the applicable requirements to issue statements of actuarial opinion.(b)  Notwithstanding Subsection (a) of this section, the city actuary must at least meet the qualifications required by the board for the pension system actuary.  The city actuary is not required to have greater qualifications than those of the pension system actuary.
TX Civ Stat § 2D (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 2D. Report on Investments by Independent Investment Consultant

Sec. 2D.  REPORT ON INVESTMENTS BY INDEPENDENT INVESTMENT CONSULTANT.  (a)  At least once every three years, the board shall hire an independent investment consultant, including an independent investment consulting firm, to conduct a review of pension system investments and submit a report to the board and the city concerning the review or demonstrate in the pension system's annual financial report that the review was conducted.  The independent investment consultant shall review and report on at least the following:(1)  the pension system's compliance with its investment policy statement, ethics policies, including policies concerning the acceptance of gifts, and policies concerning insider trading;(2)  the pension system's asset allocation, including a review and discussion of the various risks, objectives, and expected future cash flows;(3)  the pension system's portfolio structure, including the pension system's need for liquidity, cash income, real return, and inflation protection and the active, passive, or index approaches for different portions of the portfolio;(4)  investment manager performance reviews and an evaluation of the processes used to retain and evaluate managers;(5)  benchmarks used for each asset class and individual manager;(6)  an evaluation of fees and trading costs;(7)  an evaluation of any leverage, foreign exchange, or other hedging transaction; and(8)  an evaluation of investment-related disclosures in the pension system's annual reports.(b)  When the board retains an independent investment consultant under this section, the pension system may require the consultant to agree in writing to maintain the confidentiality of:(1)  information provided to the consultant that is reasonably necessary to conduct a review under this section; and(2)  any nonpublic information provided for the pension system for the review.(c)  The costs for the investment report required by this section shall be paid from the pension fund.
TX Civ Stat § 4 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 4. Ineligible Individuals

Sec. 4.  INELIGIBLE INDIVIDUALS.  Notwithstanding any other provision of this Act, the following employees of the city or of the pension system are not eligible to become members of the pension system:(1)  persons on quasi-legislative, quasi-judicial, and advisory pension boards and commissions;(2)  part-time employees, as defined by the city, other than elected officials whose service is made part-time by law or charter;(3)  seasonal employees;(4)  independent contractors, including consultants; and(5)  employees in positions covered by any other pension plan of the city to which the city contributes, including employees who are excluded from membership in another pension plan by action of the board of trustees of the other pension plan, except to the extent that they are covered in another pension plan only as a beneficiary.
TX Civ Stat § 8G (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 8G. Confidentiality

Sec. 8G.  CONFIDENTIALITY.  (a)  The information, data, and document exchanges under Sections 8A through 8F of this Act have all the protections afforded by applicable law and are expressly exempt from the disclosure requirements under Chapter 552, Government Code, except as may be agreed to by the city and pension system in a written agreement under Section 3(n) of this Act.(b)  Subsection (a) of this section does not apply to:(1)  a proposed risk sharing valuation study prepared by the pension system actuary and provided to the city actuary or prepared by the city actuary and provided to the pension system actuary under Section 8B(d) or 8C(b)(2) of this Act; or(2)  a final risk sharing valuation study prepared under Section 8B or 8C of this Act.(c)  A risk sharing valuation study prepared by either the city actuary or the pension system actuary under Sections 8A through 8F of this Act may not:(1)  include information in a form that includes identifiable information relating to a specific individual; or(2)  provide confidential or private information regarding specific individuals or be grouped in a manner that allows confidential or private information regarding a specific individual to be discerned.
TX Civ Stat § 8H (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 8H. Unilateral Decisions and Actions Prohibited

Sec. 8H.  UNILATERAL DECISIONS AND ACTIONS PROHIBITED.  No unilateral decision or action by the pension board is binding on the city and no unilateral decision or action by the city is binding on the pension system with respect to the application of Sections 8A through 8F of this Act unless expressly provided by a provision of those sections.  Nothing in this section is intended to limit the powers or authority of the pension board.
TX Civ Stat § 8I (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 8I. State Pension Review Board; Report

Sec. 8I.  STATE PENSION REVIEW BOARD; REPORT.  (a)  After preparing a final risk sharing valuation study under Section 8B or 8C of this Act, the pension system and the city shall jointly submit a copy of the study or studies, as appropriate, to the State Pension Review Board for a determination that the pension system and city are in compliance with this Act.(b)  Not later than the 30th day after the date an action is taken under Section 8E or 8F of this Act, the pension system shall submit a report to the State Pension Review Board regarding any actions taken under those sections.(c)  The State Pension Review Board shall notify the governor, the lieutenant governor, the speaker of the house of representatives, and the legislative committees having principal jurisdiction over legislation governing public retirement systems if the State Pension Review Board determines the pension system or the city is not in compliance with Sections 8A through 8H of this Act.
TX Civ Stat § 9 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 9. Contribution Refunds

Sec. 9.  CONTRIBUTION REFUNDS.  (a)  If any member's employment by the city or the pension system is terminated for other than a service disability before the completion of five years of service with the city or the pension system, the member is not eligible to receive a pension.(b)  The system shall refund to the terminated member the amount paid by the member into the pension fund through salary deduction or other authorized contributions, without interest, as provided by Section 17 of this Act.(c)  If a member dies and there are no eligible survivors to receive the allowance provided for in Section 14 of this Act, the member's spouse or, if there is no spouse, the member's estate shall receive the refund amount.
TX Civ Stat § 15 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 15. Increase in Benefits

Sec. 15.  INCREASE IN BENEFITS.  (a)  In addition to the postretirement increases under Section 10(h) of this Act, the pension board may increase annuities payable under this Act by an amount that does not exceed the annual increase in the amount of premiums being paid under a group insurance program provided for retirees of the city.(b)  The pension board may distribute a supplemental payment to all retirees and eligible survivors who are receiving annuities as of January 1 of the year in which the supplemental payment is made.  The supplemental payment shall be credited to DROP participants who are participating in DROP as of January 1 of the year in which the supplemental payment is made, if the pension board's actuary determines that as of the end of any fiscal year:(1)  the value of the pension system's assets exceeds the amount of the pension system's accrued liability;(2)  the pension system has met the actuarial investment assumption for the previous fiscal year; and(3)  the issuance of the supplemental check will not cause the city's contribution rate to increase.(c)  A person may not receive more than one supplemental payment as a result of the person's status as:(1)  a retiree and eligible survivor; or(2)  a DROP participant and eligible survivor.(d)  A pension benefit or allowance provided by this article may be increased if:(1)  a qualified actuary selected by the pension board determines that the increase cannot reasonably be considered to jeopardize the pension system's ability to pay any existing benefit;(2)  the increase is approved by the pension board and the city in a written agreement as provided by Section 3(n) of this article; and(3)  the increase does not deprive a member or retiree, without the written consent of the member or retiree, from receiving the immediate or deferred retirement benefit that the member or retiree was eligible to receive under this article before the increase.
TX Civ Stat § 16 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 16. Lump-Sum Benefit Payment

Sec. 16.  LUMP-SUM BENEFIT PAYMENT.  (a)  Notwithstanding any other provision of this Act, the pension board may pay to a member, deferred participant, eligible survivor, alternate payee, or beneficiary in a lump-sum payment the present value of any benefit payable to such a person that is less than $20,000 instead of paying any other benefit payable under this Act.  If the lump-sum present value of the benefit is at least $1,000 but less than $20,000, the pension board may make a lump-sum payment only on written request by the member, deferred participant, eligible survivor, alternate payee, or other beneficiary.  The pension board shall make any payment under this subsection as soon as practicable after eligibility under this section has been determined by the pension board.(b)  The pension board shall adopt actuarial assumptions, including an interest rate, to be used in determining lump-sum present values and amounts distributable under this section.(c)  If the pension board determines that available resources in the pension fund are inadequate to make lump-sum payments, payments under this section shall be made monthly in amounts the pension board determines.(d)  Payments under this section may not be made for a benefit that was being paid by the predecessor system or this pension system.(e)  A member who is reemployed by the city or the pension system and who has at least two years of continuous credited service after reemployment may reinstate service for which the member received a lump-sum payment under this section by paying into the pension fund the amount of the lump-sum payment, plus interest on that amount at the applicable assumed rate of return, not compounded, from the date the lump-sum payment was made to the member until the date of repayment to the pension fund.(f)  The actuarial value of a lump-sum payment is determined as of the last day of credited service or September 1, 1995, whichever is later.
TX Civ Stat § 19 (2021)
2021 Texas Statutes|Vernon's Civil Statutes|Title 109 - Pensions|Article 6243h. Municipal Pension System in Cities of 1,500,000 or More|Section 19. Multiple Pensions

Sec. 19.  MULTIPLE PENSIONS.  (a)  The pension board may authorize a member to make a one-time irrevocable election, on a date and in a manner established by the pension board, to cease to be a member of the pension system and, for future service only, to become a member of the retirement system governed by Article 6243e.2(1), Revised Statutes, or Article 6243g-4, Revised Statutes, or a successor statute to either of those laws, if the member:(1)  was a member of the pension system as authorized under Section 16B, Chapter 358, Acts of the 48th Legislature, Regular Session, 1943 (Article 6243g, Vernon's Texas Civil Statutes);(2)  is in a position covered by another retirement system to which the city contributes; and(3)  has not begun to receive payment of benefits from the pension system.(b)  A person who does not make an election to cease membership in the pension system under Subsection (a) of this section remains a member of the pension system as authorized under this Act.(c)  A person who makes an election to cease membership in the pension system is considered to have separated from service on the date of the election established by the pension board.(d)  Notwithstanding any other provision of this Act, duplication of any pension or benefit payable from the pension system and any pension or benefit payable under another defined benefit pension plan to which the city contributes is not permitted.  Any pension or benefit payable to any person under another defined benefit pension plan, based on a period of service for which credited service is given under this Act, is deducted from the total pension or benefit otherwise payable to the participant under this Act, except that the pension or benefit may not be reduced to an amount less than the amount that would have been payable if the period of service had been excluded from service.