reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 815.208. Compensation of Employees; Payment of Expenses

Sec. 815.208.  COMPENSATION OF EMPLOYEES;  PAYMENT OF EXPENSES.  (a)  The board of trustees shall compensate all persons whom it employs and shall pay all expenses necessary to operate the retirement system at rates and in amounts approved by the board.  Those rates and amounts may not exceed those paid for the same or similar service for the state.
(b)  Except as provided by Subsection (c), the board of trustees shall pay compensation and expenses required by Subsection (a) from the expense account.
(c)  The board of trustees shall make payments from the law enforcement and custodial officer supplemental retirement fund for services rendered by the actuary for that fund and approved by the board.
(d)  The board of trustees may compensate employees of the retirement system, whether subject to or exempt from the overtime provisions of the Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), at the rate equal to the employees' regular rate of pay for work performed on a legal holiday or for other compensatory time accrued, when taking compensatory time off would be disruptive to the system's normal business functions.
(e)  The retirement system is exempt from Subchapter K, Chapter 659, and Chapter 660, to the extent the board of trustees determines an exemption is necessary for the performance of fiduciary duties.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 13, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.208 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 1541, Sec. 23, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 815.210. Interest in Investment Profits Prohibited

Sec. 815.210.  INTEREST IN INVESTMENT PROFITS PROHIBITED.  Except for an interest in retirement funds as a member of the retirement system, a trustee or employee of the board of trustees may not have a direct or indirect interest in the gains or profits of any investment made by the board and may not receive any pay or emolument for services other than the person's designated compensation and authorized expenses.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.210 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 815.212. Employment Practices

Sec. 815.212.  EMPLOYMENT PRACTICES.  (a)  The executive director or the executive director's designee shall develop an intra-agency career ladder program.  The program shall require intra-agency posting of all non-entry-level positions concurrently with any public posting.
(b)  The executive director or the executive director's designee shall develop a system of annual performance evaluations.  All merit pay for retirement system employees must be based on the system established under this subsection.
(c)  The executive director or the executive director's designee shall prepare and maintain a written policy statement to assure implementation of a program of equal employment opportunity under which all personnel transactions are made without regard to race, color, disability, sex, religion, age, or national origin.  The policy statement must include:
(1)  personnel policies, including policies relating to recruitment, evaluation, selection, appointment, training, and promotion of personnel;
(2)  a comprehensive analysis of the retirement system's work force that meets federal and state guidelines;
(3)  procedures by which a determination can be made of significant underuse in the retirement system's work force of all persons for whom federal or state guidelines encourage a more equitable balance;  and
(4)  reasonable methods to appropriately address those areas of significant underuse.
(d)  A policy statement prepared under Subsection (c) must cover an annual period, be updated at least annually, and be filed with the governor's office.
(e)  The governor's office shall deliver a biennial report to the legislature based on the information received under Subsection (d).  The report may be made separately or as a part of other biennial reports made to the legislature.
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 15, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 815.213. Ethics and Disclosure Requirements

Sec. 815.213.  ETHICS AND DISCLOSURE REQUIREMENTS.  The board of trustees shall adopt an investment policy that includes a code of ethics.  The code of ethics must contain standards of ethical conduct and disclosure requirements applicable to the members of the board of trustees and employees of the retirement system in the administration of this subtitle.
Added by Acts 2001, 77th Leg., ch. 1231, Sec. 21, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 815.214. Subpoena

Sec. 815.214.  SUBPOENA.  Notwithstanding any other law, the retirement system may issue a subpoena that conforms to Rule 176, Texas Rules of Civil Procedure, including a preappeal investigative subpoena or any subpoena otherwise authorized by the Texas Rules of Civil Procedure, that the retirement system determines necessary to protect the interests of a program or system administered by the retirement system.
Added by Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 19, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.3015. Tracking and Reporting of Profit Share

Sec. 815.3015.  TRACKING AND REPORTING OF PROFIT SHARE.  (a)  In this section:
(1)  "Alternative investment" means an investment in a private equity fund, private real estate fund, hedge fund, infrastructure fund, or another asset as further defined by rule of the board of trustees.
(2)  "Profit share" means an amount received by a private professional investment manager either in consideration for achieving certain investment returns or as part of the negotiated division of investment returns between the private professional investment manager and an investor.  The term includes a performance fee, incentive fee, and carried interest.
(b)  The board of trustees shall develop a consistent method, guided by best industry practices and standards, to collect or calculate profit share data in connection with alternative investments of the retirement system.
(c)  The board of trustees shall consistently track profit share data collected or calculated in accordance with Subsection (b) and the amount of realized gains for the retirement system from the associated alternative investments.
(d)  The board of trustees shall report, at a minimum, the aggregate amount of profit shares received by private professional investment managers in connection with alternative investments of the retirement system, categorized by asset class, in the annual financial report required under Section 2101.011 and in other appropriate investment reports and board presentations.
(e)  The board of trustees may adopt rules necessary to implement this section.
Added by Acts 2017, 85th Leg., R.S., Ch. 530 (S.B. 301), Sec. 8, eff. September 1, 2017.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.3016. Approval of Certain Alternative Investments

Sec. 815.3016.  APPROVAL OF CERTAIN ALTERNATIVE INVESTMENTS.  (a)  In this section, "alternative investment" has the meaning assigned by Section 815.3015.
(b)  The executive director, a private professional investment manager, or any other person delegated authority to invest or reinvest retirement system assets under Section 815.202(f) or 815.301 may not invest retirement system assets in a single alternative investment that exceeds 0.6 percent of the total market value of the trust fund established by Section 815.310 as reported in the most recent annual financial report required under Section 2101.011 unless the board of trustees votes to approve the investment.
(c)  The board of trustees may hold a closed meeting by telephone conference call or video conference call to consider and discuss an alternative investment or a potential alternative investment under this section, regardless of whether a quorum is physically present at one location of the meeting.
(d)  Chapter 551 does not require the board of trustees to confer with one or more employees, consultants, or legal counsel of the retirement system or with a third party in an open meeting if the only purpose of the conference is to receive information from or question the employees, consultants, or legal counsel of the retirement system or the third party relating to an alternative investment or a potential alternative investment under this section.
(e)  During a closed meeting held under this section, members of the board of trustees may not deliberate public business or agency policy that affects public business.
(f)  A final action, decision, or vote on a matter considered or discussed in a closed meeting held under this section may only be made in an open meeting that is held in compliance with the notice provisions of Chapter 551.
(g)  The board of trustees may adopt rules necessary to implement this section.
Added by Acts 2017, 85th Leg., R.S., Ch. 530 (S.B. 301), Sec. 8, eff. September 1, 2017.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.302. Custody and Investment of Assets Pending Transactions

Sec. 815.302.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's cash or securities pending completion of an investment transaction and may authorize such custodian to invest the cash so held in such short-term securities as the board of trustees determines, subject only to the provisions of Section 815.301.
Added by Acts 1987, 70th Leg., 2nd C.S., ch. 77, Sec. 3, eff. Oct. 20, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.3011 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 2, eff. Aug. 28, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.303. Securities Lending

Sec. 815.303.  SECURITIES LENDING.  (a)  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's securities and to lend the securities under rules or policies adopted by the board of trustees and as required by this section.
(b)  To be eligible to lend securities under this section, a bank or brokerage firm must:
(1)  be experienced in the operation of a fully secured securities loan program;
(2)  maintain adequate capital in the prudent judgment of the retirement system to assure the safety of the securities;
(3)  execute an indemnification agreement satisfactory in form and content to the retirement system fully indemnifying the retirement system against loss resulting from borrower default in its operation of a securities loan program for the system's securities; and
(4)  require any securities broker or dealer to whom it lends securities belonging to the retirement system to deliver to and maintain with the custodian or securities lending agent collateral in the form of cash or securities that are obligations of the United States or agencies or instrumentalities of the United States in an amount equal to but not less than 100 percent of the market value, from time to time, as determined by the retirement system, of the loaned securities.
Added by Acts 1987, 70th Leg., 2nd C.S., ch. 77, Sec. 3, eff. Oct. 20, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.3012 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 3, eff. Aug. 28, 1989;  Acts 1997, 75th Leg., ch. 1048, Sec. 18, eff. Sept. 1, 1997.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1249 (S.B. 1664), Sec. 12, eff. September 1, 2011.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.304. Nominee to Hold Securities

Sec. 815.304.  NOMINEE TO HOLD SECURITIES.  (a)  The assets of the retirement system may be held in the name of agents, nominees, depository trust companies, or other entities designated by the board of trustees.
(b)  The records and all relevant reports or accounts of the retirement system must show the ownership interest of the retirement system in these assets and the facts regarding the system's holdings.
(c)  A trustee or employee of the retirement system shall have no personal economic interest in any entity listed in Subsection (a), but shall undertake such action and duties with respect to these entities as the board of trustees determines to be in the interest of the retirement system.  This subsection does not prohibit:
(1)  an interest in the assets as a member of the retirement system;
(2)  the right to receive expense reimbursements at the same rate that the board member or employee would have received as a board member or employee; and
(3)  such indemnification as is authorized by the board of trustees.
(d)  The records of an agent, nominee, or other entity that are maintained by the retirement system are subject to audit by the state auditor.
Added by Acts 1987, 70th Leg., 2nd C.S., ch. 77, Sec. 3, eff. Oct. 20, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.3013 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 4, eff. Aug. 28, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.307. Duty of Care

Sec. 815.307.  DUTY OF CARE.  The assets of the retirement system shall be invested and reinvested without distinction as to their source in accordance with Section 67, Article XVI, Texas Constitution.  A determination of whether the board of trustees has exercised prudence with respect to an investment decision must be made taking into consideration the investment of all assets of the trust or all assets of the collective investment vehicle, as applicable, over which the board has management and control, rather than considering the prudence of a single investment of the trust or the collective investment vehicle, as applicable.
Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.304 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 19, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 1111, Sec. 27, eff. Sept. 1, 2003.
Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.304 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 19, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 1103, Sec. 10, eff. Jan. 1, 2004.
Reenacted by Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 21, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.308. Cash on Hand

Sec. 815.308.  CASH ON HAND.  (a)  The board of trustees shall keep a sufficient amount of cash on hand to make payments as they become due each year under the retirement system.
(b)  The amount of cash on hand may not exceed 10 percent of the total amount in the funds of the retirement system on deposit with the comptroller, excluding the assets of the law enforcement and custodial officer supplemental retirement 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. 25.305 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.47, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.309. Crediting System Assets

Sec. 815.309.  CREDITING SYSTEM ASSETS.  All assets of the retirement system, except assets of the law enforcement and custodial officer supplemental retirement fund, shall be credited to the trust fund established by Section 815.310.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 1, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.306 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.310. Trust Fund

Sec. 815.310.  TRUST FUND.  (a)  A trust fund for the Employees Retirement System of Texas is established with the comptroller.
(b)  All assets of the trust fund shall be credited, according to the purpose for which they are held, to one of the following accounts:
(1)  employees saving account;
(2)  state accumulation account;
(3)  retirement annuity reserve account;
(4)  interest account;  or
(5)  expense account.
Added by Acts 1985, 69th Leg., ch. 91, Sec. 2, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.3061 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 17, eff. Sept. 1, 1993;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.48, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.311. Employees Saving Account

Sec. 815.311.  EMPLOYEES SAVING ACCOUNT.  (a)  The retirement system shall deposit in a member's individual account in the employees saving account the following amounts, as applicable:
(1)  the amount of contributions to the retirement system that is deducted from the member's compensation;
(2)  the portion of a deposit required to reinstate service credit previously canceled that represents only the amount withdrawn;
(3)  the portion of a deposit required to establish service credit not previously established that represents only the required contribution;
(4)  the portion of a deposit required to establish military service credit that represents only the member's contribution for that credit; and
(5)  interest and gain sharing interest in accordance with Sections 820.102 and 820.103, respectively.
(b)  Except as provided by Section 820.102 or 820.103, interest on money in an individual account in the employees saving account is earned monthly and is computed at the rate of two percent a year on the mean balance of the member's account for the fiscal year.
(c)  Unless an account is closed before the last day of the fiscal year, interest is computed for the fiscal year and is credited to the member's account as of the last day of the fiscal year.
(d)  If a member's account is closed before the last day of the fiscal year, interest is computed for the following period:
(1)  if the account is closed because of death, from the first day of the fiscal year through the last day of the month that preceded the month in which the member's death occurred;
(2)  if the account is closed by withdrawal of contributions, from the first day of the fiscal year through the last day of the month that precedes the month in which the withdrawal request is validated by the retirement system;  or
(3)  if the account is closed because of retirement, from the first day of the fiscal year through the effective date of retirement.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.307 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 618 (S.B. 1459), Sec. 13, eff. January 1, 2014.
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 12, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.312. State Accumulation Account

Sec. 815.312.  STATE ACCUMULATION ACCOUNT.  (a)  The retirement system shall deposit in the state accumulation account all contributions for retirement made by the state to the retirement system and transfer to the account the amounts required by Section 815.318 or 815.502.
(b)  The retirement system also shall deposit in the state accumulation account the interest portion of the following deposits made by members:
(1)  deposits required to reinstate service previously canceled;
(2)  deposits required to establish service credit not previously established;  and
(3)  deposits required to establish military service credit.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.308 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.313. Retirement Annuity Reserve Account

Sec. 815.313.  RETIREMENT ANNUITY RESERVE ACCOUNT.  (a)  The retirement system shall transfer to the retirement annuity reserve account money as required by Section 815.318, 815.319, or 815.321.
(b)  The retirement system shall use the money in the account to pay annuities as provided by this subtitle.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1983, 68th Leg., p. 1111, ch. 252, Sec. 6, eff. Aug. 29, 1983;  Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.309 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 18, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.314. Interest Account

Sec. 815.314.  INTEREST ACCOUNT.  Except as provided by Section 815.317, 820.102, or 820.103, the retirement system shall deposit in the interest account all income, interest, and dividends from deposits and investments of assets of the retirement system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.310 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 13, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.315. Expense Account

Sec. 815.315.  EXPENSE ACCOUNT.  (a)  The retirement system shall deposit in the expense account membership fees, money required to be transferred to the account under Section 815.318, and any appropriations made by the legislature to the account.
(b)  The retirement system shall pay from the expense account administration and maintenance expenses of the retirement system except those expenses the payment of which is provided for by Section 815.208(c) or 815.317(b).
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.311 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.317. Law Enforcement and Custodial Officer Supplemental Retirement Fund

Sec. 815.317.  LAW ENFORCEMENT AND CUSTODIAL OFFICER SUPPLEMENTAL RETIREMENT FUND.  (a)  The retirement system shall deposit in the law enforcement and custodial officer supplemental retirement fund state contributions and other appropriations made by the legislature to the fund and proceeds from investment of the fund.
(a-1)  The comptroller shall deposit fees collected under Section 133.102(e)(7), Local Government Code, to the credit of the law enforcement and custodial officer supplemental retirement fund.
(b)  The retirement system may use money from the fund only to pay supplemental retirement and death benefits to law enforcement and custodial officers as provided by this subtitle and to pay for the administration of the fund.
(c)  Money appropriated to pay benefits from the fund as provided by this subtitle may not be diverted or used to pay any other benefits.
(d)  Member contributions to the fund deducted under Section 815.402(h) or 820.101(b), as applicable:
(1)  earn interest at the same rate as money in an individual account in the employees saving account under Section 815.311; and
(2)  are subject to the same computations and limitations that apply to member contributions under Section 815.311.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1983, 68th Leg., p. 1977, ch. 360, Sec. 2, eff. Sept. 1, 1983.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.313 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 797, Sec. 4, eff. June 16, 1991;  Acts 1993, 73rd Leg., ch. 791, Sec. 19, eff. Sept. 1, 1993.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1249 (S.B. 1664), Sec. 13(a), eff. September 1, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 618 (S.B. 1459), Sec. 14, eff. September 1, 2013.
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 14, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.318. Transfer of Assets From Interest Account

Sec. 815.318.  TRANSFER OF ASSETS FROM INTEREST ACCOUNT.  (a)  The retirement system shall transfer from the interest account to the employees saving account amounts of interest computed under Section 815.311 at the following times:
(1)  as required during the fiscal year for a member's account in the retirement system that is closed before the last day of the fiscal year;  and
(2)  as of the last day of the fiscal year for a member's account that is not closed before the last day of the fiscal year.
(b)  As required during the year, the retirement system shall transfer from the interest account to the expense account amounts it determines necessary for the payment of the retirement system's expenses that exceed the amount of money available for those expenses.
(c)  As of the last day of each fiscal year, the retirement system shall transfer from the interest account to the retirement annuity reserve account an amount equal to:
(1)  five percent of the mean amount in the retirement annuity reserve account for that fiscal year;  or
(2)  an amount computed at a greater rate if the actuary recommends the greater rate to finance adequately the annuities payable from the retirement annuity reserve account.
(d)  After making the transfers required by this section, the retirement system, as of the last day of each fiscal year, shall transfer the amount remaining in the interest account to the state accumulation account.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985;  Acts 1987, 70th Leg., ch. 3, Sec. 1, eff. March 12, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.314 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 20, eff. Sept. 1, 1993;  Acts 2001, 77th Leg., ch. 1231, Sec. 22, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.319. Transfer of Assets on Retirement and Restoration to Active Service

Sec. 815.319.  TRANSFER OF ASSETS ON RETIREMENT AND RESTORATION TO ACTIVE SERVICE.  (a)  When a member retires, the retirement system shall transfer:
(1)  from the employees saving account to the retirement annuity reserve account, an amount equal to the member's accumulated contributions;  and
(2)  from the state accumulation account to the retirement annuity reserve account, an amount equal to the difference between the total reserve at present worth reserve value of the member's retirement annuity and the amount credited to the member's individual account as of the day of retirement.
(b)  If a person who receives disability benefits has those benefits terminated under Section 814.210, the retirement system shall transfer the balance of the person's retirement reserve from the retirement annuity reserve account to the employees saving account and to the state accumulation account in proportion to the original amount transferred to the retirement annuity reserve account from those accounts.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.315 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.321. Transfer of Assets for Death Benefit Annuities

Sec. 815.321.  TRANSFER OF ASSETS FOR DEATH BENEFIT ANNUITIES.  (a)  When a member dies who selected or was eligible to select a death benefit plan, or whose beneficiary is eligible to receive an annuity under Section 814.302(b) or 814.304, the retirement system shall transfer:
(1)  from the employees saving account to the retirement annuity reserve account, an amount equal to the member's accumulated contributions;  and
(2)  from the state accumulation account to the retirement annuity reserve account, an amount equal to the difference between the total reserve, at present worth reserve value, of the death benefit annuity and the amount credited to the member's individual account as of the day of the member's death.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.317 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter D. Management of Assets › Section 815.322. Transfer of Assets to Adjust Amount in Retirement Annuity Reserve Account

Sec. 815.322.  TRANSFER OF ASSETS TO ADJUST AMOUNT IN RETIREMENT ANNUITY RESERVE ACCOUNT.  After making the transfers required by Section 815.318, the executive director shall make a transfer to make the amount in the retirement annuity reserve account equal, as of the last day of each fiscal year, to the actuarial present value of the annuities for which a transfer of assets has been made as required by Section 815.319.  The transfer shall be:
(1)  a transfer from the retirement annuity reserve account to the state accumulation account of the amount by which the amount in the retirement annuity reserve account exceeds the actuarial present value of the annuities;  or
(2)  a transfer from the state accumulation account to the retirement annuity reserve account of the amount by which the actuarial present value of the annuities exceeds the amount in the retirement annuity reserve account.
Added by Acts 1987, 70th Leg., ch. 3, Sec. 2, eff. March 12, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.318 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 1541, Sec. 25, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter E. Collection of Membership Fees and Contributions › Section 815.401. Collection of Membership Fees

Sec. 815.401.  COLLECTION OF MEMBERSHIP FEES.  (a)  Each member annually shall pay a membership fee of $2.  A contributing member shall pay the fee with the member's first contribution to the retirement system in each fiscal year in the manner provided by Section 815.402 or 820.101, as applicable, for payment of the member's contribution to the retirement system.
(b)  If the membership fee is not paid with the member's first contribution of the year to the retirement system, the board of trustees may deduct the amount of the fee from that contribution or from any benefit to which the member becomes entitled.
(c)  If the legislature appropriates, on behalf of each contributing member for any fiscal year, a membership fee to be deposited in the expense account in an amount equal to or greater than the membership fee required by Subsection (a), the members are not required to pay the membership fee for that year.  The retirement system may apply the membership fee to the administration of any program administered by the board of trustees.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 91, Sec. 17, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.401 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 21, eff. Sept. 1, 1993.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 15, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter E. Collection of Membership Fees and Contributions › Section 815.4035. Collection of State Retirement Contribution

Sec. 815.4035.  COLLECTION OF STATE RETIREMENT CONTRIBUTION.  (a)  Except as provided by Section 813.201, the board of trustees shall assess each employer whose employees are members of the retirement system a state retirement contribution in an amount equal to 0.5 percent of the employer's total payroll, as determined by the General Appropriations Act.
(b)  The board of trustees shall deposit the state retirement contribution to the credit of the trust fund established by Section 815.310 to be used for the purposes specified by Section 815.103.
Added by Acts 2013, 83rd Leg., R.S., Ch. 618 (S.B. 1459), Sec. 16, eff. September 1, 2013.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter E. Collection of Membership Fees and Contributions › Section 815.404. Use of Federal Money

Sec. 815.404.  USE OF FEDERAL MONEY.  If federal regulations prohibit an agency's use of money provided under federal job training laws as state contributions, an agency shall use other money available to it to make state contributions to the retirement system for affected employees.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.404 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter E. Collection of Membership Fees and Contributions › Section 815.406. Employer Pickup of Member Contributions

Sec. 815.406.  EMPLOYER PICKUP OF MEMBER CONTRIBUTIONS.  (a)  The state shall pick up the employee contribution required of each of its employees by Section 815.402 or 820.101, as applicable, for all compensation earned.  The state shall pay to the retirement system the picked-up contributions from the same source of funds that is used in paying earnings to the employees.  Such payments shall be in lieu of contributions by the employees.  The state shall pick up these contributions by a corresponding reduction in the cash salary of the employees, by an offset against a future salary increase, or by a combination of a salary reduction and offset against a future salary increase.  Employees do not have the option of choosing to receive the contributed amounts directly instead of having them paid by the state to the retirement system.
(b)  Contributions picked up as provided by Subsection (a) shall be treated as employer contributions in determining tax treatment of the amounts under the United States Internal Revenue Code;  however, the state shall continue to withhold federal income taxes on these picked-up contributions until the Internal Revenue Service determines or the federal courts rule that pursuant to Section 414(h) of the Internal Revenue Code of 1986 (26 U.S.C. Section 414) these picked-up contributions may not be included as gross income of the employee until such time as they are distributed or made available.
(c)  Employee contributions picked up as provided by Subsection (a) shall be transmitted to the retirement system in the manner required by Section 815.402 or 820.101, as applicable.  Employee contributions picked up by the state and credited to the employee's account shall be treated for all other purposes as if the amount were a part of the member's compensation and had been deducted pursuant to Section 815.403(a).
Added by Acts 1987, 70th Leg., ch. 642, Sec. 3, eff. June 19, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.406 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 19, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter E. Collection of Membership Fees and Contributions › Section 815.407. Legacy Payments

Sec. 815.407.  LEGACY PAYMENTS.  (a)  In addition to the state contributions required by this subtitle, each fiscal year the state shall make an actuarially determined payment in the amount necessary to amortize the system's unfunded actuarial liabilities by not later than the fiscal year ending August 31, 2054.
(b)  Before each regular legislative session, the retirement system shall provide the Legislative Budget Board with the amount necessary to make the actuarially determined payment required under Subsection (a).  The director of the Legislative Budget Board, under the direction of the Legislative Budget Board, shall include that payment in the general appropriations bill prepared for introduction at each regular legislative session under Section 322.008.  This subsection expires September 1, 2055.
Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 20, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.501. Statement of Amount in Individual Accounts

Sec. 815.501.  STATEMENT OF AMOUNT IN INDIVIDUAL ACCOUNTS.  (a)  No later than December 1 of each year, the retirement system shall furnish to each member a statement of the amount credited to the member's individual account as of August 31 of the preceding fiscal year.
(b)  In addition to the statement required by Subsection (a), the retirement system shall furnish to a member, on written request, a statement of the amount credited to the member's individual account.  The board is not required to furnish more than four of these statements to each member in a fiscal year.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1989, 71st Leg., ch. 929, Sec. 3, eff. Sept. 1, 1989.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.501 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 16, Sec. 11.06(c), (g), eff. Aug. 26, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.5021. Payment to Alternate Beneficiary

Sec. 815.5021.  PAYMENT TO ALTERNATE BENEFICIARY.  If the retirement system through diligence has not located a primary beneficiary before the expiration of two years after the date benefits became payable to the beneficiary under this subtitle, the retirement system may pay the benefits to an alternate beneficiary or, if there is none, to the estate of the deceased member or annuitant.
Added by Acts 1991, 72nd Leg., ch. 850, Sec. 27, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.504. Reproduction and Preservation of Records

Sec. 815.504.  REPRODUCTION AND PRESERVATION OF RECORDS.  (a)  The retirement system may photograph, microphotograph, or film any record in its possession or preserve the record through electronic document imaging.
(b)  If a record is reproduced under Subsection (a), the retirement system may destroy or dispose of the original record if the system first:
(1)  places the reproduction in a conveniently accessible file;  and
(2)  provides for the preservation, examination, and use of the reproduction.
(c)  A photograph, microphotograph, film, or electronic document image of a record reproduced under Subsection (a) is equivalent to the original record for all purposes, including introduction as evidence in all courts and administrative agency proceedings.  A certified or authenticated copy of such a record is admissible as evidence equally with the original.
(d)  The executive director or an authorized representative may certify the authenticity of a record reproduced under this section and shall charge a fee for the certified copy as provided by law.
(e)  Certified records shall be furnished to any person who is authorized by law to receive them.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.504 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2005, 79th Leg., Ch. 347 (S.B. 1176), Sec. 20, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.505. Certification of Names of Law Enforcement and Custodial Officers

Sec. 815.505.  CERTIFICATION OF NAMES OF LAW ENFORCEMENT AND CUSTODIAL OFFICERS.  Not later than the 12th day of the month following the month in which a person begins or ceases employment as a law enforcement officer or custodial officer, the Public Safety Commission, the Texas Alcoholic Beverage Commission, the Parks and Wildlife Commission, the office of inspector general at the Texas Juvenile Justice Department, the Board of Pardons and Paroles, or the Texas Board of Criminal Justice, as applicable, shall certify to the retirement system, in the manner prescribed by the system, the name of the employee and such other information as the system determines is necessary for the crediting of service and financing of benefits under this subtitle.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.505 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 23, eff. Sept. 1, 1995;  Acts 1995, 74th Leg., ch. 688, Sec. 3, eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1541, Sec. 28, eff. Sept. 1, 1999.
Amended by:
Acts 2005, 79th Leg., Ch. 74 (S.B. 262), Sec. 3, eff. September 1, 2005.
Acts 2007, 80th Leg., R.S., Ch. 263 (S.B. 103), Sec. 23, eff. June 8, 2007.
Acts 2015, 84th Leg., R.S., Ch. 734 (H.B. 1549), Sec. 111, eff. September 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle B - Employees Retirement System of Texas › Chapter 815 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 815.506. Budget and Actuarial Information

Sec. 815.506.  BUDGET AND ACTUARIAL INFORMATION.  The retirement system shall keep, in convenient form, data necessary for actuarial valuation of the funds of the retirement system and for checking the system's expenses.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.506 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.