reglab/housing_qa huggingface dataset:
TX Govt Code § 855.308 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.308. Benefit Accumulation Fund: Prior Service

Sec. 855.308.  BENEFIT ACCUMULATION FUND:  PRIOR SERVICE.  (a)  In addition to amounts credited or charged as provided by Section 855.307, the retirement system shall credit to the account of a participating municipality in the benefit accumulation fund all prior service contributions made by the municipality to the retirement system.(b)  In addition to amounts paid as provided by Section 855.307, the retirement system shall pay from the account of a participating municipality in the benefit accumulation fund:(1)  all payments under annuities arising from prior service credits, special prior service credits, antecedent service credits, or updated service credits authorized by a participating municipality; and(2)  optional increased payments authorized by a participating municipality under Section 854.203.(c)  The retirement system shall charge municipal liabilities from updated service credits against the account of the municipality that authorized the credits.(d)  If credited service previously canceled is reinstated in accordance with Section 853.003, the retirement system shall charge the municipality's account in the benefit accumulation fund with the necessary reserves to fund credits based on prior service that are restored to the member.(e)  The retirement system shall charge reserves required to fund optional benefit increases authorized under Section 854.203 against the account of the municipality allowing the increases.(f)  The board of trustees may proportionately reduce all payments under annuities payable under this section, at any time and for a period necessary, to prevent those payments for a year from exceeding the amount available in the participating municipality's account for prior service.(g)  The annuities payable as provided by this section are liabilities and obligations of the participating municipality for which the service was performed, or granted as the result of reinstated service previously canceled, on which the annuities are based and are payable from the municipality's account in the benefit accumulation fund.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 230, ch. 18, Sec. 99, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.308 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 5, eff. May 26, 2009.Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 25, eff. June 17, 2011.Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 26, eff. June 17, 2011.|
TX Govt Code § 855.310 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.310. Interest Fund

Sec. 855.310.  INTEREST FUND.  (a)  The amount in the interest fund must accurately reflect the determination and allocation of net investment income or loss.(b)  The retirement system shall determine net investment income or loss annually as of December 31 in accordance with generally accepted accounting principles and shall allocate that amount each year in accordance with Section 855.317.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.310 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 6, eff. May 26, 2009.|
TX Govt Code § 855.311 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.311. Endowment Fund

Sec. 855.311.  ENDOWMENT FUND.  (a)  The retirement system shall deposit in the endowment fund gifts, awards, funds, and assets delivered to the retirement system that are not specifically required by the system's other funds.(b)  The endowment fund consists of:(1)  the interest reserve account;(2)  the general reserves account;(3)  the distributive benefits account;(4)  the perpetual endowment account;  and(5)  other special accounts that the board of trustees by resolution establishes.(c)  The retirement system shall credit or charge to the interest reserve account, general reserves account, and distributive benefits account amounts allocated in accordance with Section 855.317.(d)  The board of trustees shall transfer money from the interest reserve account to the expense fund in accordance with Section 855.312.(e)  If the board of trustees determines that the amount credited to the distributive benefits account on December 31 of any year is sufficient to do so, the board by resolution may:(1)  authorize the distribution and payment of all or part of the money credited to the account to persons who were annuitants on that day in the ratio of the rate of the monthly benefit of each annuitant to the total of all annuity payments made by the system for the final month of the year; or(2)  authorize the distribution of all or part of the amount credited to the account to each member's individual account as supplemental interest in the ratio of the amount of interest paid on the individual's account to the interest paid to all individual accounts for the year.(f)  The retirement system shall deposit and hold in the perpetual endowment account:(1)  funds, gifts, and awards that the grantors designate as perpetual endowments for the retirement system;  and(2)  money forfeited to the retirement system as provided by Section 855.603.(g)  Distribution and payment to an annuitant under Subsection (e) must be based on the ratio that the number of months elapsing since the effective date of the person's retirement bears to the number 12 if that person retired under this subtitle during the year for which the distribution and payment is made.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 231, ch. 18, Sec. 100, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.311 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 83, Sec. 18, eff. Dec. 31, 1999.Amended by: Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 7, eff. May 26, 2009.Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 27, eff. June 17, 2011.|
TX Govt Code § 855.312 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.312. Expense Fund

Sec. 855.312.  EXPENSE FUND.  (a)  The board of trustees shall deposit in the expense fund municipality contributions for expenses of the retirement system paid in accordance with Section 855.404.(b)  The board of trustees by resolution recorded in its minutes shall transfer from the interest reserve account of the endowment fund to the expense fund the amount that exceeds the amount needed to provide adequate reserves as provided by Section 855.317 and that is needed to pay the system's estimated expenses for the fiscal year.(c)  The retirement system shall pay from the expense fund:(1)  administrative and maintenance expenses of the system;  and(2)  notes and bonds issued in accordance with Section 855.105.(d)  If the amount of the system's estimated expenses exceeds the amount in the interest reserve account of the endowment fund available for administrative expenses, the board of trustees, by a resolution recorded in its minutes, shall assess an amount equal to the difference against each participating municipality in proportion to the number of its members in the retirement system.  The board shall collect the assessments and deposit the amount collected in the expense fund.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.312 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 8, eff. May 26, 2009.|
TX Govt Code § 855.313 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.313. Supplemental Disability Benefits Fund

Sec. 855.313.  SUPPLEMENTAL DISABILITY BENEFITS FUND.  (a)  The retirement system shall deposit in the supplemental disability benefits fund contributions made to provide supplemental disability benefits in accordance with previous law.  The retirement system may not establish separate accounts in the fund for municipalities participating in the fund but shall credit contributions to a single account.(b)  The retirement system shall pay supplemental disability benefits only from money in the supplemental disability benefits fund, and the benefits are not an obligation of other funds of the system.(c)  The beginning date of participation of each municipality participating in the supplemental disability benefits fund is that determined by the board of trustees.  Participation terminates January 1, 1988.(d)  When all annuities payable from the supplemental disability benefits fund have been finally paid and discharged, the board of trustees shall direct that the money remaining in the supplemental disability benefits fund shall be transferred and credited to the accounts of the respective participating municipalities in the benefit accumulation fund in proportion to the same ratios of their contributions to the total of all contributions to the supplemental disability benefits fund.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 231, ch. 18, Sec. 101, eff. Jan. 1, 1982;  Acts 1987, 70th Leg., ch. 183, Sec. 14, eff. Aug. 31, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.313 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 28, eff. June 17, 2011.|
TX Govt Code § 855.314 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.314. Supplemental Death Benefits Fund

Sec. 855.314.  SUPPLEMENTAL DEATH BENEFITS FUND.  (a)  The retirement system shall deposit in the supplemental death benefits fund contributions paid by municipalities to the retirement system to provide supplemental death benefits in accordance with Section 855.408.  The retirement system may not establish separate accounts in the fund for municipalities participating in the fund but shall credit contributions to a single account.(b)  The retirement system shall pay supplemental death benefits only from money in the supplemental death benefits fund, and the benefits are not an obligation of other funds of the system.(c)  The supplemental death benefits fund may become operative only after a sufficient number of municipalities elect to participate in the fund so that 4,000 members or more are covered by the fund.(d)  The board of trustees shall determine the operative date of the fund.(e)  The effective participation date of a municipality is:(1)  the operative date of the fund if the municipality elected to participate in the fund on or before the fund's operative date;  or(2)  the first day of any calendar month after the month in which the municipality notifies the board of its election to enter the fund.(f)  The board of trustees shall notify each municipality of its effective participation date.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 231, ch. 18, Sec. 102, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.314 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 855.315 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.315. Disbursements

Sec. 855.315.  DISBURSEMENTS.  (a)  Disbursements from the assets of the retirement system may be made only on vouchers signed by the person designated for that purpose in accordance with Section 855.108.(b)  A person designated to sign vouchers may draw checks or warrants only on proper authorization from the board of trustees recorded in the official minutes of the board.(c)  When a voucher is properly signed, a depository with which assets of the system are deposited shall accept and pay the voucher.  The depository is released from liability for payment made on the voucher.(d)  The retirement system shall make payments by electronic funds transfer to annuitants whose first annuity payment under this subtitle occurs after January 1, 2000.  The retirement system may use electronic funds transfers to make other payments.(e)  Notwithstanding any requirement to make a payment by electronic funds transfer, the retirement system may make payment by vouchers, checks, or warrants to an annuitant if making the payment by electronic funds transfer would be impractical for the retirement system or if the annuitant properly notifies the retirement system that:(1)  receiving the payment by electronic funds transfer would be impractical to the person;(2)  receiving the payment by electronic funds transfer would be more costly to the person than receiving the payment by check or warrant;  or(3)  the person is unable to establish a qualifying account at a financial institution to receive electronic funds transfers.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.315 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 83, Sec. 19, eff. Dec. 31, 1999.|
TX Govt Code § 855.316 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.316. Interest Rates and Crediting

Sec. 855.316.  INTEREST RATES AND CREDITING.  (a) Unless this subtitle expressly specifies another rate of interest, for periods after December 31, 2008, the rate of interest is five percent compounded annually, plus any other amounts the board of trustees is expressly authorized to provide.  Notwithstanding any other provision in this chapter, the interest credited to a member's individual account in a calendar year may not be less than five percent.(b)  Effective as of December 31 of each year, the board of trustees shall credit interest on the accumulated contributions in a member's individual account as of January 1 of that year in accordance with Subsection (a) and Section 855.306.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 232, ch. 18, Sec. 103, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.316 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 9, eff. May 26, 2009.Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 29, eff. June 17, 2011.|
TX Govt Code § 855.319 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter D. Management of Assets|Section 855.319. Payment to Formerly Participating Municipality

Sec. 855.319.  PAYMENT TO FORMERLY PARTICIPATING MUNICIPALITY.  If a participating municipality has no employees who are members of the retirement system and has no present or potential liabilities resulting from the participation of former employees, the municipality's participation in the system stops and the system shall repay to the municipality on application any amount in the benefit accumulation fund that is credited to the municipality.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 233, ch. 18, Sec. 105, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.319 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 31, eff. June 17, 2011.|
TX Govt Code § 855.401 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter E. Collection of Contributions|Section 855.401. Member Contributions

Sec. 855.401.  MEMBER CONTRIBUTIONS.  (a)  Each municipality that has one or more departments participating in the retirement system by ordinance shall designate the rate of member contributions for employees. The municipality shall elect a rate of five, six, or seven percent of the employees' compensation. All departments of a participating municipality must have the same employee contribution rate, except that any municipality that before September 1, 1991, has elected to have different rates of member contributions in different departments may continue member contributions in accordance with its existing ordinances until the municipality elects to equalize the rates.(b)  A participating municipality by ordinance may increase the rate of member contributions.(c)  A participating municipality may reduce the rate of member contributions if:(1)  at an election by secret ballot conducted under rules adopted by the board of trustees, the proposal to reduce the rate is passed by an affirmative vote of two-thirds of all members employed by the municipality;  and(2)  the municipality by ordinance provides for the reduction.(d)  A reduction in a member contribution rate may become effective only on the first day of a calendar month.  The effective date of the reduction must be after the 90th day after the day on which the election required by Subsection (c) is held or the day on which the ordinance required by Subsection (c) is adopted, whichever is later.  The municipality shall give written notice of a reduction in the deposit rate to the director before the 60th day preceding the effective date of the reduction.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1987, 70th Leg., ch. 183, Sec. 15, eff. Aug. 31, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.401 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 466, Sec. 9, eff. Aug. 26, 1991.|
TX Govt Code § 855.403 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter E. Collection of Contributions|Section 855.403. Collection of Municipality Contributions

Sec. 855.403.  COLLECTION OF MUNICIPALITY CONTRIBUTIONS.  (a)  Before the 16th day of each month, each participating municipality shall pay or cause to be paid to the retirement system at the system's office expense contributions in accordance with Section 855.404, current service contributions in accordance with Section 855.405, and prior service contributions in accordance with Section 855.406.(b)  Unless otherwise provided for and paid by a municipality, a municipality shall pay its contributions to the retirement system from:(1)  the fund from which earnings are paid to members;  or(2)  the general fund of the municipality.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.403 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 855.404 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter E. Collection of Contributions|Section 855.404. Municipality Expense Contribution

Sec. 855.404.  MUNICIPALITY EXPENSE CONTRIBUTION.  (a)  Each participating municipality shall pay to the retirement system an expense contribution prescribed in accordance with this section.(b)  The board of trustees, before January 1 of each year, shall set the rate of the contribution necessary to provide an amount required to pay the difference between:(1)  the estimated administrative expenses for the following year;  and(2)  the anticipated revenue, from sources other than municipality contributions, to be used for the expenses of the year as adjusted for a surplus or deficiency existing on January 1 of that year.(c)  The rate set by the board of trustees under Subsection (b) may not exceed 50 cents a month for each member.(d)  The board of trustees shall certify the rate set under Subsection (b) to each participating municipality before January 1 of the year for which the rate is set.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.404 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 855.405 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter E. Collection of Contributions|Section 855.405. Municipality Normal Contribution

Sec. 855.405.  MUNICIPALITY NORMAL CONTRIBUTION.  Each participating municipality shall pay to the benefit accumulation fund, as its normal contribution, an amount equal to a percentage of the compensation of members employed by the municipality for that month.  The rate of contribution is the normal contribution rate determined annually by the actuary and approved by the board of trustees.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 233, ch. 18, Sec. 106, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.405 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 33, eff. June 17, 2011.|
TX Govt Code § 855.406 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle G - Texas Municipal Retirement System|Chapter 855 - Administration|Subchapter E. Collection of Contributions|Section 855.406. Municipality Prior Service Contribution

Sec. 855.406.  MUNICIPALITY PRIOR SERVICE CONTRIBUTION.  (a)  Each participating municipality shall pay to the benefit accumulation fund, as its prior service contribution, an amount equal to a percentage of the compensation of members employed by the municipality for that month.(b)  The rate of contribution is the rate determined annually by the actuary and approved by the board of trustees as being the rate required to fund all obligations charged against the municipality's account in the benefit accumulation fund within the municipality's amortization period without resulting in a probable future depletion of that account.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 233, ch. 18, Sec. 106, eff. Jan. 1, 1982.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.406 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 33, eff. June 17, 2011.|