2023 Texas Statutes › Vernon's Civil Statutes › Title 109 - Pensions › Article 6243a-1. Pension System for Police Officers and Firefighters in Certain Cities › Part 4. Finances › Section 4.02. Use of Public Funds

Sec. 4.02.  USE OF PUBLIC FUNDS.  (a)  The financial share of the cost of the pension system to be paid out of the public treasury shall be as provided by this section.
(b)  Funds contributed by the city as its share of the amount required to finance the payment of benefits under the pension system may be used for no other purpose.  The city is not responsible for the payment of any administrative or professional service fees of the pension system.  Any change to the contributions required to be made to the pension system by the city may only be made:
(1)  by the legislature;
(2)  by a majority vote of the voters of the city; or
(3)  in accordance with a written agreement entered into between the pension system, by at least a two-thirds vote of all trustees of the board, and the city, provided that a change made in accordance with this subdivision may not increase the period required to amortize the unfunded actuarial accrued liability of the fund.
(c)  Funds shall be appropriated by the city to carry out various other provisions contained in this article that authorize expenditures in connection with the administration of the pension system.
(d)  Subject to Section 4.025 of this article, the city shall make contributions to the pension system biweekly in an amount equal to the sum of:
(1)  the greater of:
(A)  34.5 percent of the aggregate computation pay paid to members during the period for which the contribution is made; or
(B)  the applicable amount set forth below:
(i)  $5,173,000 for the biweekly pay periods beginning with the first biweekly pay period that begins after September 1, 2017, and ends on the last day of the first biweekly pay period that ends after December 31, 2017;
(ii)  $5,344,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (i) of this paragraph;
(iii)  $5,571,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (ii) of this paragraph;
(iv)  $5,724,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (iii) of this paragraph;
(v)  $5,882,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (iv) of this paragraph;
(vi)  $6,043,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (v) of this paragraph;
(vii)  $5,812,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (vi) of this paragraph;
(viii)  $6,024,000 for the 26 biweekly pay periods immediately following the last biweekly pay period described by Subparagraph (vii) of this paragraph through the biweekly pay period that ends after December 31, 2024; and
(ix)  $0 for each subsequent biweekly pay period beginning with the first biweekly pay period following the last biweekly pay period described by Subparagraph (viii) of this paragraph; and
(2)  except as provided by Subsection (e) of this section, an amount equal to 1/26th of $13 million.
(e)  The city is required to pay the contribution amount described by Subsection (d)(2) of this section only through the last biweekly pay period that ends after December 31, 2024.
(f)  Repealed by Acts 2017, 85th Leg., R.S., Ch. 318 (H.B. 3158), Sec. 1.52(3), eff. September 1, 2017.