reglab/statecodes huggingface dataset:
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243o. Police and Fire Fighter Retirement System in Municipalities of 750,000 to 1,000,000 › Article 8. Excess Benefit Plan for Fire Fighters and Police Officers › Section 8.05. Funding of Benefits

Sec. 8.05. FUNDING OF BENEFITS.    (a)  Contributions may not be accumulated under the excess benefit plan to pay future retirement benefits.  Instead, each payment of municipal contributions that would otherwise be made to the fund under Section 4.05 of this Act shall be reduced by the amount determined by the board as necessary to meet the requirements for retirement benefits under the excess benefit plan, including reasonable administrative expenses, until the next payment of municipal contributions is expected to be made to the fund.  The municipality shall then pay to the excess benefit plan out of the withheld contributions, not earlier than the 14th day before the date of each distribution of monthly retirement benefits is required to be made from the excess benefit plan, the amount necessary to satisfy the obligation to pay monthly retirement benefits from the excess benefit plan.  The board shall satisfy the obligation of the excess benefit plan to pay retirement benefits out of the municipal contributions transferred for that month.
(b) Municipal contributions otherwise required to be made to the fund under Section 4.05 of this Act and any other qualified plan shall be divided into contributions required to pay retirement benefits under this article and contributions paid into and accumulated to pay the maximum benefits required under the qualified plan.  Municipal contributions made to provide retirement benefits under this article may not be commingled with the money of the fund or any other qualified plan.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 1. General Provisions › Section 1.01. Applicability

Sec. 1.01. APPLICABILITY.  This Act applies only to a municipality that:
(1) has a population of more than 50,000 but less than 400,000;
(2) operates under a city manager form of government;  and
(3) has never elected to join, adopted, or been required to operate under a public retirement system created by a state statute applicable to municipal police officers.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 1. General Provisions › Section 1.02. Creation of Police Pension Fund

Sec. 1.02. CREATION OF POLICE PENSION FUND.  A police pension fund is hereby authorized in a municipality that adopts this Act.  Once a pension fund is adopted in a municipality as provided by Section 1.03 of this Act, any right or privilege accruing to any member under the fund is a vested right according to the terms of this Act and may not be denied or abridged through any change in population or other condition of applicability prescribed by Section 1.01 of this Act.  The pension fund shall continue to operate and function regardless of whether the municipality continues to meet the conditions of applicability defined by Section 1.01 of this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 1. General Provisions › Section 1.03. Adoption of Police Pension Fund

Sec. 1.03. ADOPTION OF POLICE PENSION FUND.  A municipality may adopt this Act by a majority vote of the municipality's governing body.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.01. Board of Trustees

Sec. 2.01.  BOARD OF TRUSTEES.  A board of trustees of the police pension fund is created, in which is vested the general administration, management, and responsibility for the proper and effective operation of the fund.   The board has all necessary powers to discharge the board's duties, including the authority to adopt necessary rules for the administration of the fund and to correct any defect, supply any omission, and reconcile any inconsistency that may appear in this Act in a manner and to the extent that the board considers expedient for the administration of this Act for the greatest benefit of all members of the fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.02. Composition of Board

Sec. 2.02.  COMPOSITION OF BOARD.  (a)  The board of trustees of the fund is composed of eight trustees as follows:
(1)  the president of the municipality's police association or the president's designee, to serve during the president's term of office;
(2)  two trustees designated by the city manager, to serve at the pleasure of the city manager;
(3)  two trustees designated by the city council, each to serve a staggered three-year term; and
(4)  three trustees elected by the members of the fund, each to serve a staggered three-year term.
(b)   A trustee serves until a successor is selected and qualified.  A vacancy occurring by death, resignation, or removal is filled in the same manner used to fill the position being vacated.  A person appointed or elected to fill a position vacated by death, resignation, or removal serves the remainder of the term, if any, for the position being vacated, at which time the person may be reappointed or stand for election for a full term.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.021. Qualifications of Trustees

Sec. 2.021.  QUALIFICATIONS OF TRUSTEES.  (a)  To be designated or elected a trustee under Section 2.02 of this Act, a person must have:
(1)  demonstrated financial, accounting, business, investment, budgeting, or actuarial experience;
(2)  a bachelor's degree from an accredited institution of higher education; or
(3)  been vetted to verify that the person is capable of performing the duties and responsibilities of a trustee under this Act and determined qualified for designation or election, as appropriate, to the board by:
(A)  the trustee serving on the board under Section 2.02(a)(1) of this Act; and
(B)  a trustee designated by the city manager under Section 2.02(a)(2) of this Act.
(b)  A person is presumed to have demonstrated the expertise described by Subsection (a)(1) of this section if the person has at least five years of full-time employment experience working in a field described by that subdivision.
(c)  A person is not required to reside in the municipality to be designated or elected a trustee under Section 2.02 of this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.03. Elected Trustees

Sec. 2.03.  ELECTED TRUSTEES.  The board shall provide by rule for the procedure for electing trustees described by Section 2.02(a)(4) of this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.035. Trustee Training

Sec. 2.035.  TRUSTEE TRAINING.  (a)  A person who is appointed or elected to the board of trustees and qualifies for office as a trustee shall complete a training program that complies with this section.
(b)  The training program must provide the trustee with information regarding:
(1)  the law governing the pension fund's operations;
(2)  the programs, functions, rules, and budget of the fund;
(3)  the scope of and limitations on the rulemaking authority of the board;
(4)  the results of the most recent actuarial valuation of the fund; and
(5)  the requirements of:
(A)  laws relating to open meetings, public information, administrative procedure, and disclosing conflicts of interest; and
(B)  other laws applicable to a trustee in performing the trustee's duties, including the board's fiduciary duty to hold and administer the assets of the fund for the exclusive benefit of members and their beneficiaries under Section 802.203, Government Code, Section 67(f), Article XVI, Texas Constitution, and any other applicable law.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.04. Administrative Staff

Sec. 2.04. ADMINISTRATIVE STAFF.  The board may appoint a plan administrator and any other persons necessary to perform administrative services for the board.  The board may determine and pay any necessary compensation for persons performing administrative services for the plan and fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.05. Investment Managers

Sec. 2.05. INVESTMENT MANAGERS.  The board may hire one or more investment managers.  An investment manager has authority to invest the assets and manage the portfolio of the fund as specified by the manager's employment contract.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.06. Investment Consultant

Sec. 2.06. INVESTMENT CONSULTANT.  The board may hire an investment consultant to monitor the investment performance of an investment manager of the fund and provide other investment advice requested by the board.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.07. Legal Counsel

Sec. 2.07. LEGAL COUNSEL.  The board may retain legal counsel to advise, assist, or represent the board in any legal matters affecting the operation of the fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.08. Investments of the Board

Sec. 2.08. INVESTMENTS OF THE BOARD.    (a)  The board is the trustee of the assets of the fund and has full power in its sole discretion to invest and reinvest, alter, and change those assets.  The board shall invest the assets in whatever instruments or investments the board considers prudent.  In making investments for the fund, the board shall discharge its duties:
(1) for the exclusive purposes of:
(A) providing benefits to members and their beneficiaries;  and
(B) defraying reasonable expenses of administering the fund;
(2) with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity and familiar with such matters would use in the conduct of an enterprise of a similar character and with similar aims;
(3) by diversifying the investments of the fund to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so;  and
(4) in accordance with the laws, documents, and instruments governing the fund.
(b) The accounts of the fund and money held by the fund to which this Act applies may not be assigned and are not subject to execution, levy, attachment, garnishment, or other legal process.
(c) The right of a member to a pension, to the return of contributions, the pension, or retirement allowance itself, any optional benefit or death benefits, any other right accrued or accruing to any person under this Act, and the money in the trust created by this Act may not be assigned except as specifically provided by this Act or as provided under the terms of a qualified domestic relations order, as defined by Section 804.001, Government Code, and are not subject to execution, levy, attachment, garnishment, the operation of bankruptcy or insolvency law, or any other process of law.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.09. Insurance

Sec. 2.09. INSURANCE.    (a)  The board may purchase from an insurer authorized to do business in this state one or more insurance policies that provide for the reimbursement of a trustee, officer, or employee of the board for liability imposed as damages caused by, and for costs and expenses incurred by the person in defense of, an alleged act, error, or omission committed in the person's capacity as fiduciary of assets of the fund.  The board may not purchase an insurance policy that provides for the reimbursement of a trustee, officer, or employee of the board for liability imposed or costs and expenses incurred because of the trustee's, officer's, or employee's personal dishonesty, fraudulent breach of trust, lack of good faith, intentional fraud or deception, or intentional failure to act prudently.  The board of trustees shall use money in the fund to purchase an insurance policy under this subsection.
(b)  If an insurance policy described by Subsection (a) of this section is not available, sufficient, adequate, or otherwise in effect, the board may indemnify a trustee, officer, or employee of the board for liability imposed as damages caused by, and for reasonable costs and expenses incurred by the person in defense of, an alleged act, error, or omission committed in the person's fiduciary capacity.  The board may not indemnify a trustee, officer, or employee of the board for liability imposed or costs and expenses incurred because of the trustee's, officer's, or employee's personal dishonesty, fraudulent breach of trust, lack of good faith, intentional fraud or deception, or intentional failure to act prudently.
(c)  A decision to indemnify under this section must be made by five trustees.  If a proposed indemnification is of a trustee, the trustee may not vote on the matter.
(d) The board may adopt a rule establishing a method for presentation, approval, and payment of claims for indemnification under this section.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.10. Action Increasing Amortization Period

Sec. 2.10.  ACTION INCREASING AMORTIZATION PERIOD.  Notwithstanding any other provision of this Act, the rate of contributions to the pension fund may not be reduced or eliminated, a new monetary benefit payable by the pension fund may not be established, and the amount of a monetary benefit from the fund may not be increased, if, as a result of the particular action, the time, as determined by an actuarial valuation, required to amortize the unfunded actuarial liabilities of the pension fund would be increased to a period that exceeds 25 years.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 2. Administration › Section 2.11. Actuarial Valuations

Sec. 2.11.  ACTUARIAL VALUATIONS.  (a)  The assumptions and methods adopted by the board and used to prepare an actuarial valuation of the pension fund's assets and liabilities must be consistent with generally accepted actuarial standards.
(b)  Any assumed rate of return adopted by the board under this Act must be reviewed as part of each actuarial valuation conducted on or after January 1, 2020.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 3. Tax Qualification › Section 3.01. Tax Qualification

Sec. 3.01. TAX QUALIFICATION.  The legislature intends that this Act be construed and administered in a manner under which the pension fund's benefit plan will be a qualified plan under Section 401(a), Internal Revenue Code of 1986 (26 U.S.C. Section 401(a)).  The board may adopt rules to qualify the plan if necessary, and the rules are considered part of the plan.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 4. Membership › Section 4.01. Membership in Fund; Eligibility

Sec. 4.01. MEMBERSHIP IN FUND;  ELIGIBILITY.    (a)  A person who has been properly appointed and enrolled as a police officer in a municipality adopting this Act automatically becomes a member of the pension fund of the municipality on the 91st day after the date the municipality adopts the fund created by this Act, except as provided under Section 11.01 of this Act.  A person who is already a member of and contributor to a municipality's police pension fund retains and is entitled to all rights and privileges due the person by virtue of having been such a member and contributor.
(b) A person who is not a member of the pension fund on the date for automatic membership under Subsection (a) of this section and who becomes properly appointed and enrolled as a police officer of a municipality adopting the fund created by this Act automatically becomes a member of the fund as a condition of the person's employment, except as provided under Section 11.01 of this Act.
(c) A part-time police officer, a temporary police officer performing emergency services, or a police officer compensated on a fee basis is not eligible for membership in the pension fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 5. Service Credit › Section 5.01. Service

Sec. 5.01. SERVICE.  Except as provided by Section 5.02 of this Act, a member shall receive credit for service during all periods of employment by the municipality as a police officer.  Service credit is used in determining the eligibility for benefits and the amount of benefits to which the member is entitled under this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 5. Service Credit › Section 5.02. Vesting

Sec. 5.02. VESTING.  No right to retirement benefits provided under this Act vests until a member completes five years of service.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 5. Service Credit › Section 5.03. Break in Service

Sec. 5.03. BREAK IN SERVICE.    (a)  A member has a break in service if the member's employment with the municipality is terminated by reason of the member's quitting, retiring, or being discharged and the member is rehired.  An authorized leave of absence, as described in Subsection (b) or (c) of this section, does not constitute a break in service if the member returns to work at the end of the leave.
(b) A member who is granted a leave of absence for military service is entitled to receive service credit for the period of military service if the member:
(1) is honorably discharged;
(2) returns to active employment with the municipality not later than the 90th day after the date the member is discharged;  and
(3) is employed by the municipality for at least one full year after the member's return.
(c) A member who is granted a leave of absence for reasons other than military service is entitled to receive service credit for the leave if:
(1) the leave of absence is for a period of three months or less;  and
(2) the member returns to active employment before the expiration of the leave period.
(d) A determination as to whether a member was absent or at work shall be made by the board on the basis of whether the member received compensation from the municipality for the period in question.  The decision of the board based on the municipality's payroll records is final and binding on the member and the member's beneficiaries.
(e) A member who has a break in service loses credit for all prior service unless the member makes a contribution to the fund in an amount that may be authorized by the board and certified by the actuary for the fund.  Except as provided by Subsection (b) of this section, a member may not be given credit for time not employed in the police department.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 6. Contributions › Section 6.01. Contribution of Members and Participation in Fund; Wage Deductions

Sec. 6.01.  CONTRIBUTION OF MEMBERS AND PARTICIPATION IN FUND; WAGE DEDUCTIONS.  Subject to modification under Section 11.01 of this Act, each member shall make contributions to the fund, and the municipality is authorized to deduct 12 percent of the member's monthly wages as contributions to the fund for service rendered after August 31, 2019.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 6. Contributions › Section 6.02. Pickup of Member Contributions

Sec. 6.02. PICKUP OF MEMBER CONTRIBUTIONS.    (a)  As provided by Section 414(h)(2), Internal Revenue Code of 1986 (26 U.S.C. Section 414(h)(2)), the municipality shall pick up and pay a member's required contribution.  Although the contributions so picked up are designated as member contributions, the contributions shall be treated as contributions being paid by the municipality in lieu of contributions by the member for determining tax liability under the Internal Revenue Code of 1986 and are not included in the gross income of the member until the amounts are distributed or made available to the member or the member's beneficiary.  The member may not choose to receive the picked-up contributions directly, and the picked-up contributions must be paid by the municipality to the fund.
(b) Member contributions picked up under Subsection (a) of this section are included in the compensation of the member for purposes of determining benefits and contributions under the fund.
(c) The municipality shall pay the member contributions from the same source of funds used in paying compensation to the member by reducing the gross compensation of the member.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 6. Contributions › Section 6.03. Contributions by Municipality

Sec. 6.03.  CONTRIBUTIONS BY MUNICIPALITY.  (a)  Subject to modification under Section 11.01 of this Act and not later than the 15th business day after the first day of the municipality's fiscal year, the municipality shall contribute to the fund 18 percent of payroll based on authorized positions, as determined by the municipality.
(b)  Not later than December 31 of the year following the year in which the municipality makes a contribution under Subsection (a) of this section, the municipality shall:
(1)  calculate the difference, if any, between the amount of the municipality's actual payroll for the applicable fiscal year and the amount of payroll on which its contribution under Subsection (a) of this section was based; and
(2)  contribute to the fund an amount equal to the municipality's applicable contribution rate multiplied by the amount of the difference calculated under Subdivision (1) of this subsection.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 6. Contributions › Section 6.04. Municipality's Liability

Sec. 6.04.  MUNICIPALITY'S LIABILITY.  (a)  Except as provided by this section, the municipality may not be held liable or responsible for any claim or asserted claim for benefits under the fund, but all claims shall be paid from the money for which provisions have been made under the terms of the plan and fund.
(b)  The municipality shall pay the pension fund, in the manner provided by Subsection (d) of this section, money in an amount sufficient to offset any negative financial impact to the fund, as determined by the actuary for the fund, caused by a unilateral action taken by the municipality, including a reduction by the municipality in the number of the municipality's police officers.
(c)  The actuary for the fund, as part of the actuary's actuarial valuation of the fund, shall annually determine whether a reduction in the number of municipal police officers by a municipality had a negative financial impact to the fund.
(d)  If the actuary determines a negative financial impact to the fund has occurred under this section, the municipality shall:
(1)  provide additional funding to the fund in the time frame prescribed for making contribution increases under Section 11.01(b-1) of this Act; and
(2)  continue to provide the funding described by Subdivision (1) of this subsection until the negative impact of the action is eliminated as determined by the actuary for the fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 6. Contributions › Section 6.05. Loans to Members

Sec. 6.05. LOANS TO MEMBERS.  A member may borrow from the member's contributions to the fund as approved by the board based on the rules adopted by the board in compliance with the Internal Revenue Code of 1986.  The rules must be applied in a nondiscriminatory manner.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.01. Normal Pension

Sec. 7.01. NORMAL PENSION.  A member who retires on or after the member's 65th birthday is entitled to receive a monthly amount equal to the following:
(1) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(2) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 15 years, for a total of 30 years.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.02. Early Pension

Sec. 7.02. EARLY PENSION.    (a)  A member who terminates service on or after the member's 55th birthday but before the member's 65th birthday and who has at least 10 years of service credited in the fund is entitled to receive a monthly amount equal to a benefit determined as a fraction of the following amount:
(1) 1.35 percent of the member's average monthly compensation multiplied by the sum of the number of full and fractional years of service, not to exceed 15 years, plus the number of years and full months from the date of termination of employment to the member's 65th birthday;  plus
(2) 1.65 percent of the member's average monthly compensation multiplied by the sum of the number of full and fractional years of service, not to exceed an additional 15 years, for a total of 30 years, plus the number of years and full months from date of termination of employment to the member's 65th birthday.
(b) The fraction used to compute an early retirement benefit is determined by dividing the number of full and fractional years of service by the sum of the number of full and fractional years of service plus the number of years and full months from date of termination to the member's 65th birthday.
(c) If payment of an early pension begins before the member's 65th birthday, the amount determined under Subsections (a) and (b) of this section shall be reduced by 1/180th for each of the first 60 months and 1/360th for each of the next 60 months by which the starting date of pension payments precedes that birthday.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.03. Special Early Pension

Sec. 7.03. SPECIAL EARLY PENSION.    (a)  A member who terminates service with the municipality on or after the date the member has 20 years of service credited in the fund shall receive a monthly amount beginning the first day of the month following the later of the member's 45th birthday or the date of termination of service.  If the member retires before reaching age 62, the member's pension is determined by the following formulas:
(1) the pension benefit payable until the age of 62 is equal to the following:
(A) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(B) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 10 years, for a total of 25 years;  plus
(C) 1.0 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 25 years but not to exceed an additional five years, for a total of 30 years;  plus
(D) 1.075 percent of the member's average monthly compensation multiplied by the number of years of service limited to 20 years;  plus
(E) 3.35 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 20 years, not to exceed an additional five years;  and
(2) the pension benefit payable after the member reaches age 62 is equal to the following:
(A) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(B) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 15 years, for a total of 30 years.
(b) A member who terminates service with the municipality on or after the date the member has 20 years of service credited in the fund and who retires on or after age 62 is entitled to receive a monthly amount equal to:
(1) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(2) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 15 years, for a total of 30 years.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.04. Extra-Special Early Pension

Sec. 7.04. EXTRA-SPECIAL EARLY PENSION.    (a)  A member who terminates service after having 25 years of service credited in the fund and who retires before the age of 62 is entitled to receive a monthly amount determined by the following formulas:
(1) the pension benefit payable up to the age of 62 equals the following:
(A) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(B) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 10 years, for a total of 25 years;  plus
(C) 1.0 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 25 years, not to exceed an additional five years, for a total of 30 years;  plus
(D) 1.075 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 20 years;  plus
(E) 3.35 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 20 years, not to exceed an additional five years;  and
(2) the pension benefit payable after the member reaches age 62 is equal to the following:
(A) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(B) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 15 years, for a total of 30 years.
(b) A member who meets the requirements for an extra-special early pension and who retires on or after age 62 is entitled to receive a monthly amount equal to the following:
(1) 1.35 percent of the member's average monthly compensation multiplied by the number of years of service, not to exceed 15 years;  plus
(2) 1.65 percent of the member's average monthly compensation multiplied by the number of years of service in excess of 15 years, not to exceed an additional 15 years, for a total of 30 years.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.05. Reemployment of Retired Members Eligible to Receive Certain Pensions

Sec. 7.05. REEMPLOYMENT OF RETIRED MEMBERS ELIGIBLE TO RECEIVE CERTAIN PENSIONS.  If a retired member eligible to receive a normal, early, special early, or deferred vested pension is reemployed by the municipality, the payment of any pension, whether or not payment has begun, to which the retired member is entitled from the plan may not be suspended, whether or not the person again becomes a member.  The retired member shall be treated as a new employee for purposes of determining the person's membership in this plan and for purposes of determining the person's service after reemployment.  However, for purposes of computing any death benefit under this plan, the previous period of service shall be used if it produces a greater amount of death benefit than the member's last period of service.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 7. Retirement Pensions › Section 7.06. Modification

Sec. 7.06. MODIFICATION.  The pensions provided by Sections 7.01-7.04 of this Act are subject to modification as provided by Section 11.01 of this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 8. Deferred Vested Pension › Section 8.01. Deferred Vested Pension

Sec. 8.01. DEFERRED VESTED PENSION.    (a)  A member is eligible for a deferred vested pension if the member's employment is terminated, for reasons other than death or retirement under a normal, early, special early, extra-special early, or disability pension, on or after the completion of five or more years of service.
(b) Payment of a deferred vested pension begins as of the first day of the month following the member's 65th birthday, if the member is then living.  If the member has completed 10 years of service, the member may request the deferred vested pension to begin as of the first day of the month following the member's 55th birthday or as of the first day of any subsequent month that precedes the member's 65th birthday.
(c) If payment of a deferred vested pension begins before the member's 65th birthday, the amount shall be reduced by 1/180th for each of the first 60 months and 1/360th for each of the next 60 months by which the starting date of the pension payment precedes the member's 65th birthday.  The provisions of this section are subject to change as provided by Section 11.01 of this Act.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.01. Disability Pensions

Sec. 9.01. DISABILITY PENSIONS.    (a)  A member is eligible for a disability pension if the member's employment is terminated by reason of a disability before the member's 65th birthday.
(b) Payment of a disability pension begins following a 12-month waiting period following the member's termination of service based on disability, except that if disability is presumed to be permanent before the completion of the 12-month period, disability payments begin following the certification of the disability.
(c) Payment of a disability pension may not begin until the disability is certified to be continuous for a period of 90 days.
(d) Payment of a disability pension ends on the member's death or the end of the member's disability.  If the disability ends on or after the member's 65th birthday, the member's disability pension shall be continued in the same manner as if the disability had continued.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.02. Reemployment Following Disability

Sec. 9.02. REEMPLOYMENT FOLLOWING DISABILITY.    (a)  If a member who has received any disability pension payments recovers and is reemployed by the municipality as a police officer not later than the 30th day after the date of certification that the disability has ended, the member's membership in the fund shall be reinstated as of the date the person returns to active employment.
(b) The member shall receive credit for all service with the municipality credited to the member at the inception date of the member's disability.
(c) The board may extend the 30-day period when, in the board's judgment, reasonable cause exists for extending the period.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.03. End of Disability Before Age 65

Sec. 9.03. END OF DISABILITY BEFORE AGE 65.  If a member's disability ends before the member's 65th birthday and the member is not reemployed by the municipality, the member shall be treated as a terminated member and is not entitled to further benefits except the excess, if any, of the member's accumulated contributions less the total amount of disability benefits received.  However, if the member meets the requirements for an early, special early, extra-special early, or deferred vested pension on the date of termination for disability, the member is entitled to receive a pension equal in amount to the early, special early, extra-special early, or deferred vested pension the member would have been entitled to as of the date of the member's disability.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.04. Ineligibility for Disability Pension

Sec. 9.04. INELIGIBILITY FOR DISABILITY PENSION.  A member is not eligible for a disability pension if the board determines that the member's disability results from:
(1) addiction to narcotics or hallucinogenic drugs;
(2) an injury suffered while engaged in a felonious or criminal act or enterprise;
(3) a self-inflicted injury;
(4) voluntary or involuntary service in the armed forces of any nation;  or
(5) an absence in excess of three months for which the member received no earnings from the municipality, unless the absence was due to sickness or accident that resulted in disability.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.05. Rules Concerning Disabilities

Sec. 9.05. RULES CONCERNING DISABILITIES.  The board may establish rules as appropriate to certify a member's disability and to verify the continued existence of the disability.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 9. Disability Pensions › Section 9.06. Amount of Disability Pension

Sec. 9.06. AMOUNT OF DISABILITY PENSION.  Subject to Section 11.01 of this Act, a member who meets the requirements for a disability pension is entitled to receive a monthly amount determined as follows:
(1) the pension payable until age 65 equals 60 percent of the member's monthly rate of pay at the time of the disability minus any primary social security benefit actually paid to the member and the amount of other payments the member is entitled to receive from workers' compensation or any other disability plan, except that a member's disability pension under this Act may not exceed $1,500 per month;  and
(2) the pension payable beginning at age 65 is an amount computed in the same manner as for a normal retirement pension considering the member's compensation and service as if:
(A) the member had continued employment with the municipality until the member's 65th birthday;  and
(B) the member's rate of pay had remained constant from the time of disability until the member's 65th birthday.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 10. Severance and Death Benefits; Refund of Contributions › Section 10.01. Severance Benefits

Sec. 10.01. SEVERANCE BENEFITS.    (a)  A member whose employment with the municipality is terminated before the member qualifies for a benefit is entitled to receive a refund of accumulated contributions, payable in a lump sum or in installments without interest.
(b) A member who receives a payment under this section forfeits any further rights or benefits from the fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 10. Severance and Death Benefits; Refund of Contributions › Section 10.02. Refund of Contributions

Sec. 10.02. REFUND OF CONTRIBUTIONS.    (a)  In lieu of any other benefit to which a retired member may be entitled, a member may elect to receive a refund of accumulated contributions, payable in a lump sum or in installments without interest.
(b) A member who receives a payment under this section forfeits any further rights or benefits from the fund.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 10. Severance and Death Benefits; Refund of Contributions › Section 10.03. Death of Member While Actively Employed by Municipality

Sec. 10.03. DEATH OF MEMBER WHILE ACTIVELY EMPLOYED BY MUNICIPALITY.    (a)  If a member dies while actively employed by the municipality, leaving a spouse or a dependent child under the age of 18, the board shall order a monthly allowance as provided by this section.
(b) The surviving spouse of an active member who, on the date of the member's death, had completed five or more years of service is eligible to receive a spouse's pension, payable monthly in an amount equal to 50 percent of the amount computed for a normal retirement pension but using the member's compensation and service earned as of the date of death.  Payment of a spouse's pension continues until the death or remarriage of the spouse.
(c) If there is not a surviving spouse, each surviving dependent child of the deceased member under the age of 18 is eligible for a dependent child's pension, payable monthly in an amount equal to 50 percent of the amount computed for a normal retirement pension, but using the member's compensation and service earned as of the date of death.  If there is more than one such child, the monthly amount shall be divided equally among the children at the time the amount is paid.  Payment of a dependent child's pension continues until the child attains the age of 18 or until the child's death, whichever occurs first.
(d) If a surviving spouse receiving a spouse's pension dies leaving a surviving dependent child or children under the age of 18, the spouse's pension shall be continued to the child or children under the terms of this section.
(e) If a member dies while actively employed by the municipality after having completed five or more years of service with the municipality and leaves no surviving spouse or dependent children, the member's beneficiaries are eligible to receive a death benefit equal to the greater of the member's total accumulated contributions or $2,500.
(f) If a member dies while actively employed by the municipality after having completed less than five years of service with the municipality, the member's beneficiaries are eligible to receive a death benefit equal to the member's accumulated contributions.
(g) The total amount of death benefit payments payable under Subsection (f) of this section may not be less than the greater of $2,500 or the total amount of the member's accumulated contributions.  If a spouse or dependent child dies before receiving the minimum amount and is not survived by another person entitled to the death benefit, the balance of that amount is payable in a lump sum to the estate of the decedent.  If the spouse remarries before receiving that amount and there are no surviving dependent children to receive payment, the balance of the death benefit is payable in a lump sum to the beneficiaries of the member.
2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243p. Police Retirement Fund in Municipalities of 50,000 to 400,000 › Article 10. Severance and Death Benefits; Refund of Contributions › Section 10.04. Death of Retired Member

Sec. 10.04. DEATH OF RETIRED MEMBER.    (a)  If a member dies under a normal, early, special early, extra-special early, or disability pension, or retires under an early, special early, extra-special early, or disability pension but dies before beginning to receive the pension and is survived by a spouse, the spouse is eligible for a monthly pension if the spouse was married to the member before the member's termination of service with the municipality's police department.
(b) The pension is equal to 50 percent of the pension to which the member was entitled on the date of death.  If the retired member retired and began receiving a pension before the age of 62, the monthly amount of the pension payable to the member's surviving spouse after the date on which the retired member would have attained age 62 shall be reduced to 50 percent of the pension which the retired member would have received had the member attained age 62.
(c) If a retired member who is receiving disability retirement benefits dies before the age of 65, the monthly amount of the pension shall be equal to 50 percent of the pension the member would have received had the member worked until the date of death at the rate of pay in effect at the inception of the disability.
(d) Payment of the pension continues until the date of death or remarriage of the spouse, whichever occurs first.
(e) The total benefit payments payable under this section may not be less than the greater of the retired member's total accumulated contributions, or $2,500, less any previous payments made to the retired member.  If the spouse dies before receiving that amount, the balance of the minimum amount of the death benefit is payable in a lump sum to the spouse's estate.  If the spouse remarries before receiving the minimum amount or if the retired member and the spouse are divorced on the retired member's date of death, the balance of the minimum amount of the death benefit is payable in a lump sum to the beneficiaries of the retired member.
(f) If a member dies under a normal, early, special early, extra-special early, or disability pension, or retires under an early, special early, extra-special early, or disability pension but dies before beginning to receive the pension and does not leave a surviving spouse, the beneficiaries of the retired member are eligible for a death benefit equal to the greater of the member's accumulated contribution or $2,500, less any payments previously made to the deceased member.
(g) If a member who is entitled to or is receiving a deferred vested pension dies, the member's beneficiaries are eligible for a death benefit, payable in a lump sum, equal to the deceased member's total accumulated contributions, less any pension payments previously received.