reglab/housing_qa huggingface dataset:
TX Govt Code § 802.104 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter B. Studies and Reports|Section 802.104. Report of Members and Retirees

Sec. 802.104.  REPORT OF MEMBERS AND RETIREES.  Each public retirement system annually shall, before the 211th day after the last day of the fiscal year under which the system operates, submit to the board a report containing the number of members and number of retirees of the system as of the last day of the immediately preceding fiscal year.|Added by Acts 1981, 67th Leg., 1st C.S., p. 196, ch. 18, Sec. 7, eff. Nov. 10, 1981.  Amended by Acts 1985, 69th Leg., ch. 143, Sec. 5, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.104 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 624, Sec. 12, eff. Sept. 1, 1991.|
TX Govt Code § 802.105 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter B. Studies and Reports|Section 802.105. Registration

Sec. 802.105.  REGISTRATION.  (a)  Each public retirement system shall, before the 91st day after the date of its creation, register with the State Pension Review Board.(b)  A registration form submitted to the board must include:(1)  the name, mailing address, and telephone number of the public retirement system;(2)  the names and occupations of the chairman and other members of its governing body;(3)  a citation of the law under which the system was created;(4)  the beginning and ending dates of its fiscal year;  and(5)  the name of the administrator of the system and the person's business mailing address and telephone number if different from those of the retirement system.(c)  A public retirement system shall notify the board of changes in information required under Subsection (b) before the 31st day after the day the change occurs.|Added by Acts 1981, 67th Leg., 1st C.S., p. 196, ch. 18, Sec. 7, eff. Nov. 10, 1981.  Amended by Acts 1985, 69th Leg., ch. 143, Sec. 5, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.105 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 802.107 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter B. Studies and Reports|Section 802.107. General Provisions Relating to Reports and Contact Information

Sec. 802.107.  GENERAL PROVISIONS RELATING TO REPORTS AND CONTACT INFORMATION.  (a)  A public retirement system shall maintain for public review at its main office and at such other locations as the retirement system considers appropriate copies of the most recent edition of each type of report or other information required by this chapter to be submitted to the State Pension Review Board.(b)  Information required by this chapter to be submitted to the State Pension Review Board may be contained in one or more documents but must be submitted within the period provided by the provision requiring the information.(c)  A public retirement system shall post on a publicly available Internet website:(1)  the name, business address, and business telephone number of a system administrator of the public retirement system; and(2)  a copy of the most recent edition of each report and other written information that is required by this chapter or Chapter 801 to be submitted to the board.(d)  A public retirement system that maintains a website or for which a website is maintained shall prominently post a link on that website to the information required by Subsection (c).  All other public retirement systems shall:(1)  prominently post the information required by Subsection (c) on a website that is maintained by the governing body of the political subdivision of which members of the public retirement system are officers or employees; or(2)  post the information required by Subsection (c) on a publicly available website that is maintained by a state agency.(e)  A report or other information posted under Subsection (c) must remain posted until replaced with a more recently submitted edition of the report or information.|Added by Acts 1985, 69th Leg., ch. 143, Sec. 7, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.1061 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 4, eff. May 24, 2013.Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 5, eff. May 24, 2013.|
TX Govt Code § 802.108 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter B. Studies and Reports|Section 802.108. Report of Investment Returns and Assumptions

Sec. 802.108.  REPORT OF INVESTMENT RETURNS AND ASSUMPTIONS.  (a)  A public retirement system shall, before the 211th day after the last day of its fiscal year, submit to the board an investment returns and actuarial assumptions report that includes:(1)  gross investment returns and net investment returns for each of the most recent 10 fiscal years;(2)  the rolling gross and rolling net investment returns for the most recent 1-year, 3-year, and 10-year periods;(3)  the rolling gross and rolling net investment return for the most recent 30-year period or the gross and net investment return since inception of the system, whichever period is shorter;(4)  the assumed rate of return used in the most recent actuarial valuation; and(5)  the assumed rate of return used in each of the most recent 10 actuarial valuations.(b)  For purposes of this section, "net investment return" means the gross investment return minus investment expenses.  The net investment return may be calculated as the money-weighted rate of return as required by generally accepted accounting principles.  The period basis for each report of investment returns under this section must be the fiscal year of the public retirement system submitting the report.(c)  If any information required to be reported by a public retirement system under Subsection (a) is unavailable, the governing body of the public retirement system shall, before the 211th day after the last day of the public retirement system's fiscal year, submit to the board a letter certifying that the information is unavailable, providing a reason for the unavailability of the information, and agreeing to timely submit the information to the board if it becomes available.|Added by Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 6, eff. May 24, 2013.|
TX Govt Code § 802.1085 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter B. Studies and Reports|Section 802.1085. Biennial Report on Investment Returns of Certain Public Retirement Systems

Sec. 802.1085.  BIENNIAL REPORT ON INVESTMENT RETURNS OF CERTAIN PUBLIC RETIREMENT SYSTEMS.  (a)  This section applies only to the:(1)  Employees Retirement System of Texas; and(2)  Teacher Retirement System of Texas.(b)  Not later than December 31 of each even-numbered year, the governing body of a public retirement system shall submit to the governor, the lieutenant governor, and each member of the legislature a report that details and compares the assumed rate of return and the annualized actual time-weighted rate of return achieved by the system for the most recent 1-year, 5-year, 10-year, and 20-year fiscal periods.  The report must include:(1)  for each period, an estimate of what the market value of the invested assets of the fund would have been as of the most recent fiscal year end had the system achieved the applicable assumed rate of return; and(2)  a comparison of each estimate described by Subdivision (1) and the actual market value of the invested assets in the fund as of the most recent fiscal year end.(c)  The report required by this section may be combined with any other report required by law.|Added by Acts 2021, 87th Leg., R.S., Ch. 570 (S.B. 483), Sec. 1, eff. September 1, 2021.|
TX Govt Code § 802.201 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.201. Assets in Trust

Sec. 802.201.  ASSETS IN TRUST.  The governing body of a public retirement system shall hold or cause to be held in trust the assets appropriated or dedicated to the system, for the benefit of the members and retirees of the system and their beneficiaries.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.201 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 802.2011 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.2011. Funding Policy

Sec. 802.2011.  FUNDING POLICY.  (a) In this section:(1)  "Funded ratio" means the ratio of a public retirement system's actuarial value of assets divided by the system's actuarial accrued liability.(2)  "Governmental entity" has the meaning assigned by Section 802.1012.(3)  "Statewide retirement system" means:(A)  the Employees Retirement System of Texas, including a retirement system administered by that system;(B)  the Teacher Retirement System of Texas;(C)  the Texas County and District Retirement System; (D)  the Texas Emergency Services Retirement System; and(E)  the Texas Municipal Retirement System.(b)  The governing body of a public retirement system and, if the system is not a statewide retirement system, its associated governmental entity shall:(1)  jointly, if applicable:(A)  develop and adopt a written funding policy that details a plan for achieving a funded ratio of the system that is equal to or greater than 100 percent; and(B)  timely revise the policy to reflect any significant changes to the policy, including changes required as a result of formulating and implementing a funding soundness restoration plan, including a revised funding soundness restoration plan, under Section 802.2015 or 802.2016;(2)  maintain for public review at its main office a copy of the policy;(3)  file a copy of the policy and each change to the policy with the board not later than the 31st day after the date the policy or change, as applicable, is adopted; and(4)  post a copy of the most recent edition of the policy on a publicly available Internet website in accordance with Section 802.107(c)(2).(c)  For purposes of Subsection (b)(1)(B), the written funding policy must outline any automatic contribution or benefit changes designed to prevent having to formulate a revised funding soundness restoration plan under Section 802.2015(d), including any  automatic risk-sharing mechanisms that have been implemented, the adoption of an actuarially determined contribution structure, and other adjustable benefit or contribution mechanisms.(d)  The board may adopt rules necessary to implement this section.|Added by Acts 2019, 86th Leg., R.S., Ch. 453 (S.B. 2224), Sec. 1, eff. September 1, 2019.Amended by: Acts 2021, 87th Leg., R.S., Ch. 1033 (H.B. 3898), Sec. 3, eff. September 1, 2021.|
TX Govt Code § 802.202 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.202. Investment of Surplus

Sec. 802.202.  INVESTMENT OF SURPLUS.  (a)  The governing body of a public retirement system is responsible for the management and administration of the funds of the system.(b)  When, in the opinion of the governing body, a surplus of funds exists in accounts of a public retirement system over the amount needed to make payments as they become due within the next year, the governing body shall deposit all or as much of the surplus as the governing body considers prudent in a reserve fund for investment.(c)  The governing body shall determine the procedure it finds most efficient and beneficial for the management of the reserve fund of the system.  The governing body may directly manage the investments of the system or may choose and contract for professional investment management services.(d)  The governing body of a public retirement system shall:(1)  develop and adopt a written investment policy;(2)  maintain for public review at its main office a copy of the policy;(3)  file a copy of the policy with the State Pension Review Board not later than the 90th day after the date the policy is adopted;  and(4)  file a copy of each change to the policy with the State Pension Review Board not later than the 90th day after the change is adopted.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.202 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 373, Sec. 1, eff. Aug. 30, 1993.|
TX Govt Code § 802.204 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.204. Investment Manager

Sec. 802.204.  INVESTMENT MANAGER.  (a)  The governing body of a public retirement system may appoint investment managers for the system by contracting for professional investment management services with one or more organizations, which may include a bank if it has a trust department, that are in the business of managing investments.(b)  To be eligible for appointment under this section, an investment manager must be:(1)  registered under the Investment Advisors Act of 1940 (15 U.S.C. Section 80b-1 et seq.);(2)  a bank as defined by that Act;  or(3)  an insurance company qualified to perform investment services under the laws of more than one state.(c)  In a contract made under this section, the governing body shall specify any policies, requirements, or restrictions, including criteria for determining the quality of investments and for the use of standard rating services, that the governing body adopts for investments of the system.(d)  A political subdivision of which members of the public retirement system are officers or employees may pay all or part of the cost of professional investment management services under a contract under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 199, ch. 18, Sec. 10, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.204 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 802.205 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.205. Investment Custody Account

Sec. 802.205.  INVESTMENT CUSTODY ACCOUNT.  (a)  If the governing body of a public retirement system contracts for professional investment management services, it also shall enter into an investment custody account agreement designating a bank, depository trust company, or brokerage firm to serve as custodian for all assets allocated to or generated under the contract.(b)  Under a custody account agreement, the governing body of a public retirement system shall require the designated custodian to perform the duties and assume the responsibilities for funds under the contract for which the agreement is established that are performed and assumed, in the absence of a contract, by the custodian of system funds.(c)  A political subdivision of which members of the retirement system are officers or employees may pay all or part of the cost of custodial services under a custody account agreement under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.(d)  If the governing body enters into a contract under Subsection (a) with a brokerage firm, the firm must:(1)  be a broker-dealer registered with the Securities and Exchange Commission;(2)  be a member of a national securities exchange;(3)  be a member of the Securities Investor Protection Corporation;(4)  be registered with the State Securities Board;  and(5)  maintain net regulatory capital of at least $200 million.(e)  A brokerage firm contracted with for custodial services under this section may not have discretionary authority over the retirement system's assets in the firm's custody.(f)  A brokerage firm that provides custodial services under Subsection (a) must provide insurance against errors, omissions, mysterious disappearance, or fraud in an amount equal to the amount of the assets the firm holds in custody.(g)  A brokerage firm that provides consulting advice, custody of assets, or other services to a public retirement system under this chapter shall discharge its duties solely in the interest of the public retirement system in accordance with Section 802.203.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.205 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 621, Sec. 1, eff. Sept. 1, 1991;  Acts 2003, 78th Leg., ch. 916, Sec. 1, eff. June 20, 2003.|
TX Govt Code § 802.206 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.206. Evaluation of Investment Services

Sec. 802.206.  EVALUATION OF INVESTMENT SERVICES.  (a)  The governing body of a public retirement system may at any time and shall at frequent intervals monitor the investments made by any investment manager for the system.  The governing body may contract for professional evaluation services to fulfill this requirement.(b)  A political subdivision of which members of the retirement system are officers or employees may pay all or part of the cost of professional evaluation services under a contract under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.206 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 802.207 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter C. Administration of Assets|Section 802.207. Custody and Use of Funds

Sec. 802.207.  CUSTODY AND USE OF FUNDS.  (a)  An investment manager other than a bank having a contract with a public retirement system under Section 802.204 may not be a custodian of any assets of the reserve fund of the system.(b)  When demands of the public retirement system require, the governing body shall withdraw from a custodian of system funds money for use in paying benefits to members and other beneficiaries of the system and for other uses authorized by this subchapter and approved by the governing body.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.207 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.|
TX Govt Code § 802.301 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle A - Provisions Generally Applicable to Public Retirement Systems|Chapter 802 - Administrative Requirements|Subchapter D. Actuarial Analysis of Legislation|Section 802.301. Actuarial Impact Statements

Sec. 802.301.  ACTUARIAL IMPACT STATEMENTS.  (a)  Except as provided by Subsection (g), a bill or resolution that proposes to change the amount or number of benefits or participation in benefits of a public retirement system or that proposes to change a fund liability of a public retirement system is required to have attached to it an actuarial impact statement as provided by this section.(b)  An actuarial impact statement required by this section must:(1)  summarize the actuarial analysis prepared under Section 802.302 for the bill or resolution accompanying the actuarial impact statement;(2)  identify and comment on the reasonableness of each actuarial assumption used in the actuarial analysis under Subdivision (1);  and(3)  include other information determined necessary by board rule.(c)  The board is primarily responsible for preparing a required actuarial impact statement under this section.(d)  A required actuarial impact statement must be attached to the bill or resolution:(1)  before a committee hearing on the bill or resolution is held;  and(2)  at the time it is reported from a legislative committee of either house for consideration by the full membership of a house of the legislature.(e)  An actuarial impact statement must remain with the bill or resolution to which it is attached throughout the legislative process, including the process of submission to the governor.(f)  A bill or resolution for which an actuarial impact statement is required is exempt from the requirement of a fiscal note as provided by Chapter 314.(g)  An actuarial impact statement is not required for a bill or resolution that proposes to have an economic effect on a public retirement system only by providing new or increased administrative duties.(h)  The board shall provide to the Legislative Budget Board a copy of any actuarial impact statement required under this section.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.301 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 624, Sec. 13, eff. Sept. 1, 1991.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1312 (S.B. 59), Sec. 44, eff. September 1, 2013.|