reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter B. Studies and Reports › Section 802.104. Report of Members and Retirees

Sec. 802.104.  REPORT OF MEMBERS AND RETIREES.  Each public retirement system annually shall, before the 211th day after the last day of the fiscal year under which the system operates, submit to the board a report containing the number of members and number of retirees of the system as of the last day of the immediately preceding fiscal year.
Added by Acts 1981, 67th Leg., 1st C.S., p. 196, ch. 18, Sec. 7, eff. Nov. 10, 1981.  Amended by Acts 1985, 69th Leg., ch. 143, Sec. 5, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.104 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 624, Sec. 12, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter B. Studies and Reports › Section 802.105. Registration

Sec. 802.105.  REGISTRATION.  (a)  Each public retirement system shall, before the 91st day after the date of its creation, register with the State Pension Review Board.
(b)  A registration form submitted to the board must include:
(1)  the name, mailing address, and telephone number of the public retirement system;
(2)  the names and occupations of the chairman and other members of its governing body;
(3)  a citation of the law under which the system was created;
(4)  the beginning and ending dates of its fiscal year;  and
(5)  the name of the administrator of the system and the person's business mailing address and telephone number if different from those of the retirement system.
(c)  A public retirement system shall notify the board of changes in information required under Subsection (b) before the 31st day after the day the change occurs.
Added by Acts 1981, 67th Leg., 1st C.S., p. 196, ch. 18, Sec. 7, eff. Nov. 10, 1981.  Amended by Acts 1985, 69th Leg., ch. 143, Sec. 5, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.105 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter B. Studies and Reports › Section 802.107. General Provisions Relating to Reports and Contact Information

Sec. 802.107.  GENERAL PROVISIONS RELATING TO REPORTS AND CONTACT INFORMATION.  (a)  A public retirement system shall maintain for public review at its main office and at such other locations as the retirement system considers appropriate copies of the most recent edition of each type of report or other information required by this chapter to be submitted to the State Pension Review Board.
(b)  Information required by this chapter to be submitted to the State Pension Review Board may be contained in one or more documents but must be submitted within the period provided by the provision requiring the information.
(c)  A public retirement system shall post on a publicly available Internet website:
(1)  the name, business address, and business telephone number of a system administrator of the public retirement system; and
(2)  a copy of the most recent edition of each report and other written information that is required by this chapter or Chapter 801 to be submitted to the board.
(d)  A public retirement system that maintains a website or for which a website is maintained shall prominently post a link on that website to the information required by Subsection (c).  All other public retirement systems shall:
(1)  prominently post the information required by Subsection (c) on a website that is maintained by the governing body of the political subdivision of which members of the public retirement system are officers or employees; or
(2)  post the information required by Subsection (c) on a publicly available website that is maintained by a state agency.
(e)  A report or other information posted under Subsection (c) must remain posted until replaced with a more recently submitted edition of the report or information.
Added by Acts 1985, 69th Leg., ch. 143, Sec. 7, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.1061 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 4, eff. May 24, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 5, eff. May 24, 2013.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter B. Studies and Reports › Section 802.108. Report of Investment Returns and Assumptions

Sec. 802.108.  REPORT OF INVESTMENT RETURNS AND ASSUMPTIONS.  (a)  A public retirement system shall, before the 211th day after the last day of its fiscal year, submit to the board an investment returns and actuarial assumptions report that includes:
(1)  gross investment returns and net investment returns for each of the most recent 10 fiscal years;
(2)  the rolling gross and rolling net investment returns for the most recent 1-year, 3-year, and 10-year periods;
(3)  the rolling gross and rolling net investment return for the most recent 30-year period or the gross and net investment return since inception of the system, whichever period is shorter;
(4)  the assumed rate of return used in the most recent actuarial valuation; and
(5)  the assumed rate of return used in each of the most recent 10 actuarial valuations.
(b)  For purposes of this section, "net investment return" means the gross investment return minus investment expenses.  The net investment return may be calculated as the money-weighted rate of return as required by generally accepted accounting principles.  The period basis for each report of investment returns under this section must be the fiscal year of the public retirement system submitting the report.
(c)  If any information required to be reported by a public retirement system under Subsection (a) is unavailable, the governing body of the public retirement system shall, before the 211th day after the last day of the public retirement system's fiscal year, submit to the board a letter certifying that the information is unavailable, providing a reason for the unavailability of the information, and agreeing to timely submit the information to the board if it becomes available.
Added by Acts 2013, 83rd Leg., R.S., Ch. 140 (H.B. 13), Sec. 6, eff. May 24, 2013.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter B. Studies and Reports › Section 802.1085. Biennial Report on Investment Returns of Certain Public Retirement Systems

Sec. 802.1085.  BIENNIAL REPORT ON INVESTMENT RETURNS OF CERTAIN PUBLIC RETIREMENT SYSTEMS.  (a)  This section applies only to the:
(1)  Employees Retirement System of Texas; and
(2)  Teacher Retirement System of Texas.
(b)  Not later than December 31 of each even-numbered year, the governing body of a public retirement system shall submit to the governor, the lieutenant governor, and each member of the legislature a report that details and compares the assumed rate of return and the annualized actual time-weighted rate of return achieved by the system for the most recent 1-year, 5-year, 10-year, and 20-year fiscal periods.  The report must include:
(1)  for each period, an estimate of what the market value of the invested assets of the fund would have been as of the most recent fiscal year end had the system achieved the applicable assumed rate of return; and
(2)  a comparison of each estimate described by Subdivision (1) and the actual market value of the invested assets in the fund as of the most recent fiscal year end.
(c)  The report required by this section may be combined with any other report required by law.
Added by Acts 2021, 87th Leg., R.S., Ch. 570 (S.B. 483), Sec. 1, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.201. Assets in Trust

Sec. 802.201.  ASSETS IN TRUST.  The governing body of a public retirement system shall hold or cause to be held in trust the assets appropriated or dedicated to the system, for the benefit of the members and retirees of the system and their beneficiaries.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.201 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.2011. Funding Policy

Sec. 802.2011.  FUNDING POLICY.  (a) In this section:
(1)  "Funded ratio" means the ratio of a public retirement system's actuarial value of assets divided by the system's actuarial accrued liability.
(2)  "Governmental entity" has the meaning assigned by Section 802.1012.
(3)  "Statewide retirement system" means:
(A)  the Employees Retirement System of Texas, including a retirement system administered by that system;
(B)  the Teacher Retirement System of Texas;
(C)  the Texas County and District Retirement System;
(D)  the Texas Emergency Services Retirement System; and
(E)  the Texas Municipal Retirement System.
(b)  The governing body of a public retirement system and, if the system is not a statewide retirement system, its associated governmental entity shall:
(1)  jointly, if applicable:
(A)  develop and adopt a written funding policy that details a plan for achieving a funded ratio of the system that is equal to or greater than 100 percent; and
(B)  timely revise the policy to reflect any significant changes to the policy, including changes required as a result of formulating and implementing a funding soundness restoration plan, including a revised funding soundness restoration plan, under Section 802.2015 or 802.2016;
(2)  maintain for public review at its main office a copy of the policy;
(3)  file a copy of the policy and each change to the policy with the board not later than the 31st day after the date the policy or change, as applicable, is adopted; and
(4)  post a copy of the most recent edition of the policy on a publicly available Internet website in accordance with Section 802.107(c)(2).
(c)  For purposes of Subsection (b)(1)(B), the written funding policy must outline any automatic contribution or benefit changes designed to prevent having to formulate a revised funding soundness restoration plan under Section 802.2015(d), including any  automatic risk-sharing mechanisms that have been implemented, the adoption of an actuarially determined contribution structure, and other adjustable benefit or contribution mechanisms.
(d)  The board may adopt rules necessary to implement this section.
Added by Acts 2019, 86th Leg., R.S., Ch. 453 (S.B. 2224), Sec. 1, eff. September 1, 2019.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 1033 (H.B. 3898), Sec. 3, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.202. Investment of Surplus

Sec. 802.202.  INVESTMENT OF SURPLUS.  (a)  The governing body of a public retirement system is responsible for the management and administration of the funds of the system.
(b)  When, in the opinion of the governing body, a surplus of funds exists in accounts of a public retirement system over the amount needed to make payments as they become due within the next year, the governing body shall deposit all or as much of the surplus as the governing body considers prudent in a reserve fund for investment.
(c)  The governing body shall determine the procedure it finds most efficient and beneficial for the management of the reserve fund of the system.  The governing body may directly manage the investments of the system or may choose and contract for professional investment management services.
(d)  The governing body of a public retirement system shall:
(1)  develop and adopt a written investment policy;
(2)  maintain for public review at its main office a copy of the policy;
(3)  file a copy of the policy with the State Pension Review Board not later than the 90th day after the date the policy is adopted;  and
(4)  file a copy of each change to the policy with the State Pension Review Board not later than the 90th day after the change is adopted.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.202 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 373, Sec. 1, eff. Aug. 30, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.204. Investment Manager

Sec. 802.204.  INVESTMENT MANAGER.  (a)  The governing body of a public retirement system may appoint investment managers for the system by contracting for professional investment management services with one or more organizations, which may include a bank if it has a trust department, that are in the business of managing investments.
(b)  To be eligible for appointment under this section, an investment manager must be:
(1)  registered under the Investment Advisors Act of 1940 (15 U.S.C. Section 80b-1 et seq.);
(2)  a bank as defined by that Act;  or
(3)  an insurance company qualified to perform investment services under the laws of more than one state.
(c)  In a contract made under this section, the governing body shall specify any policies, requirements, or restrictions, including criteria for determining the quality of investments and for the use of standard rating services, that the governing body adopts for investments of the system.
(d)  A political subdivision of which members of the public retirement system are officers or employees may pay all or part of the cost of professional investment management services under a contract under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 199, ch. 18, Sec. 10, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.204 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.205. Investment Custody Account

Sec. 802.205.  INVESTMENT CUSTODY ACCOUNT.  (a)  If the governing body of a public retirement system contracts for professional investment management services, it also shall enter into an investment custody account agreement designating a bank, depository trust company, or brokerage firm to serve as custodian for all assets allocated to or generated under the contract.
(b)  Under a custody account agreement, the governing body of a public retirement system shall require the designated custodian to perform the duties and assume the responsibilities for funds under the contract for which the agreement is established that are performed and assumed, in the absence of a contract, by the custodian of system funds.
(c)  A political subdivision of which members of the retirement system are officers or employees may pay all or part of the cost of custodial services under a custody account agreement under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.
(d)  If the governing body enters into a contract under Subsection (a) with a brokerage firm, the firm must:
(1)  be a broker-dealer registered with the Securities and Exchange Commission;
(2)  be a member of a national securities exchange;
(3)  be a member of the Securities Investor Protection Corporation;
(4)  be registered with the State Securities Board;  and
(5)  maintain net regulatory capital of at least $200 million.
(e)  A brokerage firm contracted with for custodial services under this section may not have discretionary authority over the retirement system's assets in the firm's custody.
(f)  A brokerage firm that provides custodial services under Subsection (a) must provide insurance against errors, omissions, mysterious disappearance, or fraud in an amount equal to the amount of the assets the firm holds in custody.
(g)  A brokerage firm that provides consulting advice, custody of assets, or other services to a public retirement system under this chapter shall discharge its duties solely in the interest of the public retirement system in accordance with Section 802.203.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.205 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 621, Sec. 1, eff. Sept. 1, 1991;  Acts 2003, 78th Leg., ch. 916, Sec. 1, eff. June 20, 2003.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.206. Evaluation of Investment Services

Sec. 802.206.  EVALUATION OF INVESTMENT SERVICES.  (a)  The governing body of a public retirement system may at any time and shall at frequent intervals monitor the investments made by any investment manager for the system.  The governing body may contract for professional evaluation services to fulfill this requirement.
(b)  A political subdivision of which members of the retirement system are officers or employees may pay all or part of the cost of professional evaluation services under a contract under this section.  Any cost not paid directly by a political subdivision is payable from funds of the public retirement system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.206 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter C. Administration of Assets › Section 802.207. Custody and Use of Funds

Sec. 802.207.  CUSTODY AND USE OF FUNDS.  (a)  An investment manager other than a bank having a contract with a public retirement system under Section 802.204 may not be a custodian of any assets of the reserve fund of the system.
(b)  When demands of the public retirement system require, the governing body shall withdraw from a custodian of system funds money for use in paying benefits to members and other beneficiaries of the system and for other uses authorized by this subchapter and approved by the governing body.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.207 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter D. Actuarial Analysis of Legislation › Section 802.301. Actuarial Impact Statements

Sec. 802.301.  ACTUARIAL IMPACT STATEMENTS.  (a)  Except as provided by Subsection (g), a bill or resolution that proposes to change the amount or number of benefits or participation in benefits of a public retirement system or that proposes to change a fund liability of a public retirement system is required to have attached to it an actuarial impact statement as provided by this section.
(b)  An actuarial impact statement required by this section must:
(1)  summarize the actuarial analysis prepared under Section 802.302 for the bill or resolution accompanying the actuarial impact statement;
(2)  identify and comment on the reasonableness of each actuarial assumption used in the actuarial analysis under Subdivision (1);  and
(3)  include other information determined necessary by board rule.
(c)  The board is primarily responsible for preparing a required actuarial impact statement under this section.
(d)  A required actuarial impact statement must be attached to the bill or resolution:
(1)  before a committee hearing on the bill or resolution is held;  and
(2)  at the time it is reported from a legislative committee of either house for consideration by the full membership of a house of the legislature.
(e)  An actuarial impact statement must remain with the bill or resolution to which it is attached throughout the legislative process, including the process of submission to the governor.
(f)  A bill or resolution for which an actuarial impact statement is required is exempt from the requirement of a fiscal note as provided by Chapter 314.
(g)  An actuarial impact statement is not required for a bill or resolution that proposes to have an economic effect on a public retirement system only by providing new or increased administrative duties.
(h)  The board shall provide to the Legislative Budget Board a copy of any actuarial impact statement required under this section.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.301 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 624, Sec. 13, eff. Sept. 1, 1991.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1312 (S.B. 59), Sec. 44, eff. September 1, 2013.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter D. Actuarial Analysis of Legislation › Section 802.302. Preparation of Actuarial Analysis

Sec. 802.302.  PREPARATION OF ACTUARIAL ANALYSIS.  (a)  The board shall request a public retirement system affected by a bill or resolution as described by Section 802.301(a) to provide the board with an actuarial analysis.
(b)  An actuarial analysis required by this section must be prepared by an actuary who is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, or an enrolled actuary under the Employees Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.).
(c)  A public retirement system that receives a request under Subsection (a) must provide the board with an actuarial analysis on or before the 21st day after the date of the request, if the request relates to a bill or resolution introduced for consideration during a regular legislative session.
(d)  The board shall adopt deadlines for the provision under this section of an actuarial analysis that relates to a bill or resolution introduced for consideration during a called legislative session.  The deadlines must be designed to provide the most complete information practicable in a timely manner.
(e)  The board may prepare an actuarial analysis for a public retirement system that receives a request under Subsection (a) and does not provide the board with an actuarial analysis within the required period under Subsection (c) or (d).
(f)  The public retirement system may reimburse the board's costs incurred in preparing an actuarial analysis under Subsection (e).
(g)  For each actuarial analysis that a public retirement system prepares, the board shall have a second actuary:
(1)  review the actuarial analysis accompanying the bill or resolution;  and
(2)  comment on the reasonableness of each actuarial assumption used in the public retirement system's actuarial analysis.
(h)  Even if a public retirement system prepares an actuarial analysis under Subsection (c) or (d), the board may have a second actuary prepare a separate actuarial analysis.
(i)  A public retirement system is not prohibited from providing to the legislature any actuarial analysis or information that the system determines necessary or proper.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.302 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 624, Sec. 14, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter D. Actuarial Analysis of Legislation › Section 802.3021. State Pension Review Board Actuary

Sec. 802.3021.  STATE PENSION REVIEW BOARD ACTUARY.  An actuary who reviews or prepares an actuarial analysis for the board must have at least five years of experience as an actuary working with one or more public retirement systems and must be a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, or an enrolled actuary under the Employees Retirement Income Security Act of 1974 (29 U.S.C.  Section 1001 et seq.).
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.207 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Redesignated from Sec. 802.302(c) and amended by Acts 1991, 72nd Leg., ch. 624, Sec. 14, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter D. Actuarial Analysis of Legislation › Section 802.303. Contents of Actuarial Analysis

Sec. 802.303.  CONTENTS OF ACTUARIAL ANALYSIS.  (a)  An actuarial analysis must show the economic effect of the bill or resolution on the public retirement system affected, including a projection of the annual cost to the system of implementing the legislation for at least 10 years.  If the bill or resolution applies to more than one public retirement system, the cost estimates in the analysis may be limited to each affected state-financed public retirement system and each affected public retirement system in a city having a population of 200,000 or more.
(b)  An actuarial analysis must include a statement of the actuarial assumptions and methods of computation used in the analysis and a statement of whether or not the bill or resolution, if enacted, will make the affected public retirement system actuarially unsound or, in the case of a system already actuarially unsound, more unsound.
(c)  The projection of the effect of the bill or resolution on the actuarial soundness of the system must be based on a computation of advanced funding of actuarial costs.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 802 - Administrative Requirements › Subchapter D. Actuarial Analysis of Legislation › Section 802.304. Cost of Actuarial Analysis

Sec. 802.304.  COST OF ACTUARIAL ANALYSIS.  The state may not pay the cost of a required actuarial analysis that is prepared for a public retirement system not financed by the state, except that a sponsor of the bill or resolution for which the analysis is prepared may pay the cost of preparation out of funds available for the sponsor's personal or office 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. 12.304 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter A. General Provisions › Section 803.001. Definitions

Sec. 803.001.  DEFINITIONS.  In this chapter:
(1)  "Combined service credit" means the total of a person's service credit in only those retirement systems to which this chapter applies for which the total satisfies the length-of-service requirements for service retirement at the person's attained age, and does not include:
(A)  any service credit in a retirement system for which the total of a person's service credit does not satisfy the length-of-service requirements for service retirement at the person's attained age;  or
(B)  service credit earned with or allowed by a subdivision or municipality not participating in the program provided by this chapter or, as applicable, a subdivision or municipality whose participation is limited as provided by Section 803.103.
(2)  "Service credit" means service that is in a person's account in a retirement system to which this chapter applies and that may be used to meet length-of-service requirements for service retirement in that system.
(3)  Repealed by Acts 1991, 72nd Leg., ch. 131, Sec. 9, eff. Sept. 1, 1991.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 602, Sec. 3, eff. Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.001 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 2, 9, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter A. General Provisions › Section 803.002. Purpose of Chapter

Sec. 803.002.  PURPOSE OF CHAPTER.  The purpose of this chapter is to implement the authority granted the legislature by Article XVI, Section 67, of the Texas Constitution to provide a program of proportionate benefits to qualified members of more than one retirement system to which this chapter applies.  It is contrary to the purpose of this chapter for a person or class of persons to receive, because of service in more than one retirement system to which this chapter applies, proportionately greater benefits from a particular system than a person who has rendered faithful career service under that one system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.002 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 3, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter A. General Provisions › Section 803.0021. Application of Chapter

Sec. 803.0021.  APPLICATION OF CHAPTER.  This chapter applies only to:
(1)  a retirement system for general municipal employees in a municipality with a population of not less than 950,000 nor more than 1,050,000;
(2)  the Employees Retirement System of Texas, the Teacher Retirement System of Texas, the Judicial Retirement System of Texas Plan One, the Judicial Retirement System of Texas Plan Two, the Texas County and District Retirement System, and the Texas Municipal Retirement System; and
(3)  a retirement system that makes an election under Section 803.101(f).
Added by Acts 1991, 72nd Leg., ch. 131, Sec. 1, eff. Sept. 1, 1991.  Amended by Acts 1997, 75th Leg., ch. 1190, Sec. 1, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 669, Sec. 21, eff. Sept. 1, 2001.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 21, eff. September 1, 2011.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 47, eff. September 1, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter A. General Provisions › Section 803.003. Construction of Chapter

Sec. 803.003.  CONSTRUCTION OF CHAPTER.  (a)  The provisions of this chapter are exceptions to the other laws governing retirement systems to which this chapter applies and prevail over those laws to the extent of explicit conflict, but this chapter must be construed strictly as against those laws.
(b)  Notwithstanding any other law, a person who is involuntarily transferred to a position included in the coverage of a retirement system governed by Chapter 101, Acts of the 43rd Legislature, 1st Called Session, 1933 (Article 6243b, Vernon's Texas Civil Statutes), from a position included in a retirement system operated by a municipality that does not participate in a statewide retirement system governed by Chapter 101, Acts of the 43rd Legislature, 1st Called Session, 1933 (Article 6243b, Vernon's Texas Civil Statutes), may make an irrevocable election at the time of the transfer to continue membership in the municipal retirement system.  An involuntary transfer is determined by the employment rules that apply to the person immediately before the time of the involuntary transfer.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.003 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 3, eff. Sept. 1, 1991;  Acts 1999, 76th Leg., ch. 1296, Sec. 2, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter B. Participation and Membership › Section 803.102. Retirement System Membership

Sec. 803.102.  RETIREMENT SYSTEM MEMBERSHIP.  (a)  Membership in a retirement system to which this chapter applies does not terminate because of absence from service covered by that system during a period for which the member earns service credit in another retirement system to which this chapter applies for service performed for an employer other than a subdivision or municipality not participating in the program provided by this chapter.
(b)  A person may continue membership in a retirement system to which this chapter applies while absent from service with all retirement systems to which this chapter applies if the person would be eligible, under the laws governing that system, to continue membership if the person's combined service credit had been earned in that system.
(c)  In this section, a person's absence from service begins on the day after the last day of service covered by any retirement system to which this chapter applies.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.102 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 5, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter B. Participation and Membership › Section 803.103. Limitation of Participation by Retirement Systems

Sec. 803.103.  LIMITATION OF PARTICIPATION BY RETIREMENT SYSTEMS.  (a)  Participation in the proportionate retirement program by a subdivision participating in the Texas County and District Retirement System or a municipality participating in the Texas Municipal Retirement System does not include:
(1)  participation with a retirement system described by Section 803.0021(1) if the subdivision or municipality has elected to so limit its participation and has not revoked the election under Subsection (b);  or
(2)  participation with a retirement system described by Section 803.0021(3).
(b)  A subdivision or municipality that has elected to limit its participation in the proportionate retirement program may revoke the election and remove the limitation on participation.  An election under this subsection may be made by vote of the governing body of the subdivision or municipality in the manner required for official actions of the governing body.  The governing body shall send notice of an election under this subsection to the board of trustees of the retirement system in which the subdivision or municipality participates.
(c)  The effective date of a removal of a limitation on participation in the proportionate retirement program by a subdivision or municipality electing under Subsection (b) is the first day of the month after the month in which the appropriate board of trustees receives notice of the election.
Added by Acts 1991, 72nd Leg., ch. 131, Sec. 6, eff. Jan. 1, 1992.  Amended by Acts 1997, 75th Leg., ch. 1190, Sec. 3, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter C. Creditable Service › Section 803.201. Retirement Eligibility Based on Combined Service Credit

Sec. 803.201.  RETIREMENT ELIGIBILITY BASED ON COMBINED SERVICE CREDIT.  (a)  A person who has membership in two or more retirement systems to which this chapter applies is subject to the laws governing each of those systems for determination of the person's eligibility for service retirement benefits from each system, except that, for the purpose of determining whether a person meets the length-of-service requirements for service retirement of a system, the person's combined service credit must be considered as if it were all credited in each system.
(b)  A person's combined service credit is useable only in determining eligibility for service retirement benefits and may not be used in determining:
(1)  eligibility for disability retirement benefits, death benefits, or any type of benefit other than service retirement benefits;  nor
(2)  the amount of any type of benefit.
(c)  A person receiving service retirement or lifetime disability retirement benefits from one or more retirement systems to which this chapter applies may use the program provided by this chapter to qualify for subsequent service retirement under another retirement system to which this chapter applies in which the person has service credit, if the person was not eligible to retire under the latter system at the time of previous service retirement, or qualification for lifetime disability retirement benefits from a retirement system to which this chapter applies, or if the person's previous retirement was not based on combined service credit.
(d)  Service credit earned with or allowed by more than one retirement system to which this chapter applies for the same service may be counted only once in determining the amount of a person's combined service credit.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.201 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 616, Sec. 2, eff. June 14, 1989;  Acts 1991, 72nd Leg., ch. 131, Sec. 7, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter C. Creditable Service › Section 803.202. Service in Certain Retirement Systems

Sec. 803.202.  SERVICE IN CERTAIN RETIREMENT SYSTEMS.  (a)  The board of trustees of the Employees Retirement System of Texas by rule may:
(1)  consider the classes of service in the Employees Retirement System of Texas as if they were, for purposes of this chapter, classes in separate statewide retirement systems;  or
(2)  permit a person who is retiring exclusively from retirement systems administered by the board to use the shortest length-of-service requirement provided for retirement in any class in which the person has service credit.
(b)  A member of a retirement system administered by the board of trustees of the Employees Retirement System of Texas may reestablish service credit previously canceled in another retirement system administered by the board if the member holds a position included in the system of which the person is a member and has held the position for at least 12 months.  The method of reestablishment and the amount to be deposited are as provided by the applicable law providing for reestablishment of service credit generally in the particular retirement system.
(c)  A member of the Employees Retirement System of Texas who is subject to Chapter 820 is eligible to participate in the program provided by this chapter.
(d)  A member of the Judicial Retirement System of Texas Plan Two who is subject to Chapter 840A is eligible to participate in the program provided by this chapter.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.202 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 1, eff. Sept. 1, 1993.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321), Sec. 1, eff. September 1, 2021.
Acts 2023, 88th Leg., R.S., Ch. 1092 (S.B. 1245), Sec. 1, eff. June 18, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter C. Creditable Service › Section 803.204. Combined Service Credit in Certain Systems

Sec. 803.204.  COMBINED SERVICE CREDIT IN CERTAIN SYSTEMS.  (a)  This section applies only to an employee who:
(1)  is a member of a municipal retirement system described by Section 803.0021(1);
(2)  is employed by a hospital district, a charitable organization supervised, overseen, and effectively controlled by the hospital district, or an administrative agency created under Section 791.013, either before or after being employed by the employing municipality located in the same county as the hospital district, charitable organization, or administrative agency; and
(3)  participates in a public retirement system:
(A)  that is determined to be a qualified plan under Section 401(a), Internal Revenue Code of 1986 (26 U.S.C. Section 401(a)), of a hospital district, charitable organization, or administrative agency that is determined to be a governmental unit, or an agency or an instrumentality of a governmental unit; and
(B)  that records and reports service credit as defined by Section 803.001.
(b)  Any service credit earned by an employee described by Subsection (a) with a retirement system established by the hospital district, charitable organization, or administrative agency will be combined under Section 803.201 to determine whether the employee meets the length-of-service requirements for service retirement under the municipal retirement system.
(c)  On retirement, an employee described by Subsection (a) will receive a benefit from the municipal retirement system as determined by Subchapter D, and if the hospital district or administrative agency has established or participates in a retirement program or the charitable organization has a retirement plan, will receive a benefit from the hospital district, administrative agency, or charitable organization as determined by the terms of the district's, agency's, or organization's retirement plan.
(d)  For purposes of this section, a charitable organization supervised, overseen, and effectively controlled by a hospital district or an administrative agency created under Section 791.013 is an agency or instrumentality of a governmental unit.
Added by Acts 2007, 80th Leg., R.S., Ch. 164 (S.B. 1107), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 217 (S.B. 1063), Sec. 2, eff. May 27, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter D. Benefits › Section 803.301. Computation of Benefits Generally

Sec. 803.301.  COMPUTATION OF BENEFITS GENERALLY.  The amount of a benefit payable by a retirement system to which this chapter applies is determined according to and in the manner prescribed by laws governing that system and is based solely on a person's service credit in that system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.301 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 8, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle A - Provisions Generally Applicable to Public Retirement Systems › Chapter 803 - Proportionate Retirement Program › Subchapter D. Benefits › Section 803.302. Computation of Certain Benefits

Sec. 803.302.  COMPUTATION OF CERTAIN BENEFITS.  (a)  If payable to or on behalf of a person who has used combined service credit to qualify for benefits from at least one retirement system to which this chapter applies, each of the following types of benefits must be computed as provided by Subsection (b):
(1)  a base retirement annuity that does not vary in amount directly with the amount of a person's service credit;
(2)  a fixed lump-sum death benefit payable on the death of a retiree;
(3)  any death benefit payable on the death of a retiree who received service retirement benefits;  and
(4)  a survivor benefit payable to a beneficiary of a deceased retiree of the Teacher Retirement System of Texas.
(b)  The amount of a benefit payable under Subsection (a) by a retirement system to which this chapter applies is a percentage, but not more than 100 percent, of the benefit that would be or would have been payable if the person retired or had retired on the basis of only the service that is credited in that system.  The percentage applied is equal to the amount of service credit in that system, divided by the amount of service credit that would be or would have been required for the benefit if the person retired or had retired on the basis of only the service that is credited in that system.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 13.302 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 131, Sec. 8, eff. Sept. 1, 1991.