reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.301. Selection of Death Benefit Plan by Member

Sec. 839.301.  SELECTION OF DEATH BENEFIT PLAN BY MEMBER.  (a)  An eligible member may select a death benefit plan for the payment of a death benefit annuity, to be paid if the member dies before retirement.  Except as provided by Subsections (c) and (d), a death benefit annuity is an amount computed, in the manner provided under Sections 839.102(a) and (b) for computation of a standard service retirement annuity, as if the member had retired on the date of death and payable, beginning on the day after the date of the member's death, in one of the following ways:
(1)  throughout the life of one person designated by the member;  or
(2)  to one or more persons designated by the member, for a period of 120 months.
(b)  A member eligible to select a death benefit plan is one who is a member and has at least 10 years of service credit in the retirement system.
(c)  The retirement system shall, under tables adopted by the board of trustees as provided by Section 840.005, actuarially reduce the amount of a death benefit annuity payable under this section for the difference between the member's age on the date of death and age 65, if the member dies before attaining that age.
(d)  The computation of a death benefit annuity selected under Subsection (a)(1) must include the age of the designated recipient.
(e)  A member may select a death benefit plan by filing an application for a plan with the board of trustees on a form prescribed by the board.  After selection, a death benefit plan takes effect at death unless the member amends the plan, selects a retirement annuity at the time of retirement, or has chosen a plan that cannot take effect.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.301 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 850, Sec. 33, eff. Sept. 1, 1991.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.302. Selection of Death Benefit Plan by Survivor of Member

Sec. 839.302.  SELECTION OF DEATH BENEFIT PLAN BY SURVIVOR OF MEMBER.  If a member eligible to select a death benefit plan under Section 839.301 dies without having made a selection or if a plan selected cannot be made effective, the member's designated beneficiary may select a plan in the same manner as if the member had made the selection.  If there is no designated beneficiary, the personal representative of the decedent's estate may make the selection.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.202 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 35, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.303. Member Death Benefits Generally

Sec. 839.303.  MEMBER DEATH BENEFITS GENERALLY.  (a)  Except as provided by Subsection (c), if a contributing member dies, a lump-sum death benefit is payable from the retirement system in an amount computed at the rate of five percent of the amount in the member's individual account at the time of death times the number of full years of service credit the member had at the time of death.
(b)  The benefit provided by this section is payable to a person designated by the member in a signed document filed with the retirement system.  If a member does not designate a beneficiary or if the beneficiary does not survive the member, the benefit is payable to the member's estate.
(c)  A death benefit may not be paid under this section if, at the time of death, the member was eligible to select a death benefit annuity under Section 839.301.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.303 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 E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.304. Return of Contributions

Sec. 839.304.  RETURN OF CONTRIBUTIONS.  (a)  Except as provided by Subsection (c), if a member dies before retirement, the amount of the member's accumulated contributions is payable as a lump-sum death benefit.
(b)  The benefit provided by this section is payable to a person designated by the member in a signed document filed with the board of trustees.  If a member does not designate a beneficiary, the benefit is payable to the member's estate.
(c)  A death benefit may not be paid under this section if, at the time of death, the member was eligible to select a death benefit annuity under Section 839.301.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.304 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 E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.305. Return of Excess Contributions

Sec. 839.305.  RETURN OF EXCESS CONTRIBUTIONS.  (a)  Except as provided by Subsection (c), if a person dies after retirement, a lump-sum death benefit is payable in an amount, if any, by which the retiree's contributions to the retirement system on the date of retirement exceed the amount of annuity payments made before the retiree's death.
(b)  The benefit provided by this section is payable to the retiree's designated beneficiary.  If a retiree dies without having designated a beneficiary, the benefit is payable to the person entitled to distribution of the decedent's estate if that person or the personal representative of the decedent's estate claims the benefit before the second anniversary of the decedent's death.
(c)  A death benefit may not be paid under this section if an optional retirement annuity has been selected as provided by Section 839.103 or 839.203(c).
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.305 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 E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter D. Death Benefits › Section 839.306. Beneficiary Causing Death of Member or Annuitant

Sec. 839.306.  BENEFICIARY CAUSING DEATH OF MEMBER OR ANNUITANT.  (a)  Any benefits, funds, or account balances payable on the death of a member or annuitant may not be paid to a person convicted of or adjudicated as having caused that death but instead are payable as if the convicted person had predeceased the decedent.
(b)  A person who becomes eligible under this section to select death or survivor benefits may select benefits as if the person were the designated beneficiary.
(c)  The retirement system shall reduce any annuity computed in part on the age of the convicted or adjudicated person to a lump sum equal to the present value of the remainder of the annuity.  The reduced amount is payable to a person entitled as provided by this section to receive the benefit.
(d)  The retirement system is not required to change the recipient of any benefits, funds, or account balances under this section unless it receives actual notice of the conviction or adjudication of a beneficiary.  However, the retirement system may delay payment of any benefits, funds, or account balances payable on the death of a member or annuitant pending the results of a criminal investigation or civil proceeding and other legal proceedings relating to the cause of death.
(e)  For the purposes of this section, a person has been convicted of or adjudicated as having caused the death of a member or annuitant if the person:
(1)  pleads guilty or nolo contendere to, or is found guilty by a court or jury in a criminal proceeding of, causing the death of the member or annuitant, regardless of whether sentence is imposed or probated, and no appeal of the conviction is pending and the time provided for appeal has expired; or
(2)  is found liable by a court or jury in a civil proceeding for causing the death of the member or annuitant and no appeal of the judgment is pending and the time provided for appeal has expired.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1249 (S.B. 1664), Sec. 16, eff. September 1, 2011.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 839 - Benefits › Subchapter E. Increases in Benefits › Section 839.401. Annuity Increase After Death or Retirement

Sec. 839.401.  ANNUITY INCREASE AFTER DEATH OR RETIREMENT.  (a)  Except as provided by Subsections (b) and (e), on the first day of each fiscal year, the retirement system shall increase the amounts of annuities that are payable by the system to a retiree, to the survivor of a retiree, or to the survivor of a deceased member.
(b)  The retirement system may not increase under this section the amount of an annuity unless the retirement or death on which the annuity is based occurred before the first day of the preceding fiscal year.
(c)  The legislature may appropriate money from the general revenue fund to pay the costs of increasing the amounts of annuities under this section.  On the first day of each fiscal year, the state comptroller of public accounts shall transfer to the retirement system any money appropriated for the fiscal year for the purpose of this section.
(d)  If the amount of money appropriated for a fiscal year is insufficient to finance the rate of increase in annuities specified in the Act making the appropriation or if the Act fails to specify a rate of increase, the board of trustees shall set the rate as the rate that the amount of money appropriated will finance for the duration of the annuities payable to those persons entitled to receive an increase in annuities under this section.
(e)  If an appropriation is not made for a fiscal year for the purpose of this section, the retirement system may not increase under this section the amount of annuities for that year.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 74.401 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.001. General Administration

Sec. 840.001.  GENERAL ADMINISTRATION.  (a)  The board of trustees of the Employees Retirement System of Texas, as provided by Subchapter A of Chapter 815, is responsible for the general administration and operation of the retirement system.  The board of trustees shall hold all retirement system assets in trust for the exclusive benefit of the members and annuitants of the system and administer all operations funded by trust assets for the same purpose.
(b)  The executive director shall recommend to the board of trustees actuarial and other services required to transact the business of the retirement system.
(c)  Annually, the executive director shall prepare an itemized budget showing the amount required to pay the retirement system's expenses for the following fiscal year and shall submit the budget to the board of trustees for review and adoption.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.001 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2005, 79th Leg., Ch. 347 (S.B. 1176), Sec. 23, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.002. Rulemaking

Sec. 840.002.  RULEMAKING.  Subject to the limitations of this subtitle, the board of trustees may adopt rules and provide for forms it considers necessary for the administration of the retirement system.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.002 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.003. Administering System Assets

Sec. 840.003.  ADMINISTERING SYSTEM ASSETS.  (a)  All assets of the retirement system shall be credited to the trust fund provided by Section 840.305.  The board of trustees shall administer all assets of the retirement system.  The board is the trustee of the system's assets.
(b)  The board of trustees may acquire, hold, manage, purchase, sell, assign, trade, transfer, and dispose of any security, evidence of debt, or other investment in which the retirement system's assets may be invested.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.003 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.004. Designation of Authority to Sign Vouchers

Sec. 840.004.  DESIGNATION OF AUTHORITY TO SIGN VOUCHERS.  The board of trustees shall file with the state comptroller of public accounts a duly attested copy of a board resolution that designates the authorized representatives, as provided by this chapter, who have authority to sign vouchers for payment from the funds administered by the board of trustees.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.004 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.005. Adopting Tables and Rates

Sec. 840.005.  ADOPTING TABLES AND RATES.  At least once every four years, the board of trustees by rule shall adopt interest rates and mortality, service, and other tables the board considers necessary for the retirement system after considering the results of the actuary's investigation of the mortality, service, and compensation experience of the system's members and beneficiaries under Section 815.206.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.005 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 530 (S.B. 301), Sec. 9, eff. September 1, 2017.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.006. Records of Board of Trustees

Sec. 840.006.  RECORDS OF BOARD OF TRUSTEES.  The board shall keep a record of all of its proceedings.  Records of the board are open to public inspection.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.006 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.007. Report

Sec. 840.007.  REPORT.  Annually, the retirement system shall publish a report containing the following information:
(1)  the retirement system's fiscal transactions of the preceding fiscal year;
(2)  the amount of the system's accumulated cash and securities;  and
(3)  the balance sheet showing the financial condition of the system for the preceding fiscal year.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.007 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.008. Correction of Errors

Sec. 840.008.  CORRECTION OF ERRORS.  If an error in the records of the retirement system results in a person receiving more or less money than the person is entitled to receive under this subtitle, the retirement system shall correct the error and so far as practicable shall adjust future payments so that the actuarial equivalent of the benefit to which the person is entitled is paid.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.008 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter A. Powers and Duties › Section 840.009. Provisions Inapplicable to Cash Balance Group Members

Sec. 840.009.  PROVISIONS INAPPLICABLE TO CASH BALANCE GROUP MEMBERS.  Sections 840.102(g) and (h), 840.1025, and 840.1027 of this chapter do not apply to a cash balance group member.
Added by Acts 2023, 88th Leg., R.S., Ch. 1092 (S.B. 1245), Sec. 10, eff. June 18, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter B. Collection of Membership Fees and Contributions; Appropriations › Section 840.1025. Contributions After 20 Years of Service Credit

Sec. 840.1025.  CONTRIBUTIONS AFTER 20 YEARS OF SERVICE CREDIT.  (a)  A judicial officer who is a member of the retirement system and who accrues 20 years of service credit in the retirement system may elect to make contributions for each subsequent year of service credit that the member accrues by filing an application with the retirement system.
(b)  A member who elects to make contributions under Subsection (a) shall contribute six percent of the member's state compensation for each payroll period in the manner provided by Sections 840.102(b)-(f).
(c)  Repealed by Acts 2009, 81st Leg., R.S., Ch. 1308, Sec. 41(6), eff. September 1, 2009.
Added by Acts 2005, 79th Leg., Ch. 1033 (H.B. 1114), Sec. 8, eff. September 1, 2005.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 41(6), eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter B. Collection of Membership Fees and Contributions; Appropriations › Section 840.1027. Contributions After Attaining Rule of 70

Sec. 840.1027.  CONTRIBUTIONS AFTER ATTAINING RULE OF 70.  (a)  Notwithstanding Section 840.102(h), a judicial officer who is a member of the retirement system and who has served at least 12 years on an appellate court and the sum of the member's age and amount of service credited in the retirement system equals or exceeds the number 70 may elect to make contributions for each subsequent year of service credit that the member accrues by filing an application with the retirement system.
(b)  A member who elects to make contributions under Subsection (a) shall contribute six percent of the member's state compensation for each payroll period in the manner provided by Sections 840.102(b)-(f).
(c)  Repealed by Acts 2009, 81st Leg., R.S., Ch. 1308, Sec. 41(7), eff. September 1, 2009.
Added by Acts 2005, 79th Leg., Ch. 1203 (H.B. 617), Sec. 2, eff. September 1, 2005.
Amended by:
Acts 2005, 79th Leg., 2nd C.S., Ch. 3 (H.B. 11), Sec. 9, eff. December 1, 2005.
Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 41(7), eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter B. Collection of Membership Fees and Contributions; Appropriations › Section 840.103. Collection of State Contributions

Sec. 840.103.  COLLECTION OF STATE CONTRIBUTIONS.  (a)  During each fiscal year, the state shall contribute to the retirement system an amount equal to a percentage of the aggregate state compensation of all contributing members of the retirement system for that year, as provided by Subsection (b)(1).
(b)  Not later than December 31 of each even-numbered year, the retirement system shall certify to the Legislative Budget Board and to the budget division of the governor's office for review:
(1)  an actuarial valuation of the retirement system to determine the percentage of annual payroll required from the state to finance fully the retirement system as provided by Section 840.106;
(2)  an estimate of the amount necessary to pay the state's contribution under Subdivision (1) for the following biennium;  and
(3)  as a separate item, an estimate of the amount, in addition to anticipated receipts from membership fees, required to administer the retirement system for the following biennium.
(c)  The amount certified under Subsection (b)(2) shall be included in the budget of the state that the governor submits to the legislature.  The legislature may appropriate money to pay administrative costs of the retirement system.
(d)  Before September 1 of each year, the retirement system shall certify to the state comptroller of public accounts an estimate of the amount necessary to pay the state's contribution under Subsection (a) for the following fiscal year.
(e)  All money allocated and appropriated by the state to the retirement system for benefits provided by the retirement system shall be paid, based on the annual estimate of the retirement system, in monthly installments to the retirement system.  The money required for state contributions shall be from money appropriated to pay the compensation of the member for whose benefit the contribution or fee is paid.  If the total of the estimated required payments is not equal to the total of the actual payments required for a fiscal year, the retirement system shall certify to the state comptroller of public accounts at the end of that year the amount required for necessary adjustments, and the comptroller shall make the required adjustments.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.103 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 38, eff. Sept. 1, 1993;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.56, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 1541, Sec. 31, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter B. Collection of Membership Fees and Contributions; Appropriations › Section 840.105. Employer Pickup of Member Contributions

Sec. 840.105.  EMPLOYER PICKUP OF MEMBER CONTRIBUTIONS.  (a)  For all state compensation earned by judicial officers who are members of the retirement system, the state shall pick up the member contributions required by Section 840.102 or 840A.101, as applicable.  The state shall pay the picked-up contributions to the retirement system from the same source that is used in paying state compensation to the judicial officer members.  These payments are in lieu of contributions by the members.  The state shall pick up these contributions by a corresponding reduction in the cash salaries of the members, by an offset against a future salary increase, or by a combination of a salary reduction and offset against a future salary increase.  Members do not have the option of choosing to receive the contributed amounts directly instead of having them paid by the state to the retirement system.
(b)  Contributions picked up as provided by Subsection (a) shall be treated as employer contributions in determining tax treatment of the amounts under the United States Internal Revenue Code;  however, the state shall continue to withhold federal income taxes on these picked-up contributions until the Internal Revenue Service determines or the federal courts rule that pursuant to Section 414(h) of the Internal Revenue Code of 1986 (26 U.S.C. Section 414(h)) these picked-up contributions are not includable as gross income of the member until the time that they are distributed or made available.
(c)  Member contributions picked up as provided by Subsection (a) shall be transmitted to the retirement system in the manner required by Section 840.102.  Member contributions picked up by the state shall be credited to the members' individual accounts and treated for all other purposes as if the amounts were a part of the members' compensation and had been deducted as provided by Section 840.102 or 840A.101, as applicable.
Added by Acts 1989, 71st Leg., ch. 56, Sec. 1, eff. May 3, 1989.  Renumbered from Title 110B, Sec. 75.105 by Acts 1989, 71st Leg., ch. 1100, Sec. 4.07, eff. Sept. 1, 1989.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 1092 (S.B. 1245), Sec. 13, eff. June 18, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter B. Collection of Membership Fees and Contributions; Appropriations › Section 840.106. Action Increasing Amortization Period

Sec. 840.106.  ACTION INCREASING AMORTIZATION PERIOD.  (a)  A rate of member or state contributions to or a rate of interest required for the establishment of credit in the retirement system may not be reduced or eliminated, a type of service may not be made creditable in the retirement system, a limit on the maximum permissible amount of a type of creditable service may not be removed or raised, a new monetary benefit payable by the retirement system may not be established, and the determination of the amount of a monetary benefit from the system 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 retirement system would be increased to a period that exceeds 30 years by one or more years.
(b)  If the amortization period for the unfunded actuarial liabilities of the retirement system exceeds 30 years by one or more years at the time an action described by Subsection (a) is proposed, the proposal may not be adopted if, as a result of the adoption, the amortization period would be increased, as determined by an actuarial valuation.
Added by Acts 1993, 73rd Leg., ch. 791, Sec. 39, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.201. Legal Adviser

Sec. 840.201.  LEGAL ADVISER.  The attorney general of the state is the legal adviser of the board of trustees.  The attorney general shall represent the board in all litigation.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.201 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.202. Medical Board

Sec. 840.202.  MEDICAL BOARD.  (a)  The board of trustees shall designate a medical board composed of three physicians.
(b)  To be eligible to serve as a member of the medical board, a physician must be licensed to practice medicine in the state and be of good standing in the medical profession.  A physician who is eligible to participate in the retirement system may not be a member of the medical board.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 1121 (H.B. 2384), Sec. 34(4), eff. September 1, 2019.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.202 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1121 (H.B. 2384), Sec. 34(4), eff. September 1, 2019.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.203. Other Physicians

Sec. 840.203.  OTHER PHYSICIANS.  The board of trustees may employ physicians in addition to the medical board to report on special cases.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.203 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.204. Actuary

Sec. 840.204.  ACTUARY.  (a)  The board of trustees shall designate an actuary.
(b)  An actuary employed under this section must be a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, or an enrolled actuary under the Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et seq.).
(c)  At least once every five years the actuary, under the direction of the board of trustees, shall make an actuarial investigation of the mortality, service, and compensation experience of the members and beneficiaries of the retirement system.
(d)  On the basis of tables adopted by the board of trustees under Section 840.005, the actuary shall make a valuation of the assets and liabilities of the retirement system's funds annually.
(e)  The actuary shall perform such other duties as are required by the board of trustees.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.204 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.205. Financial and Investment Services

Sec. 840.205.  FINANCIAL AND INVESTMENT SERVICES.  The board of trustees may employ persons, either as full-time employees or as independent contractors, to assist the board in investing assets of the retirement system, in evaluating investments or investment services, or in otherwise managing financial operations of the retirement system.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.205 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.206. Comptroller

Sec. 840.206.  COMPTROLLER.  (a)  The comptroller is the custodian of the securities, bonds, and funds of the retirement system, except as provided by Section 840.3011 or 840.3012 of this subtitle.
(b)  The comptroller shall pay money from the trust fund of the retirement system on warrants drawn by the state comptroller supported on vouchers signed by the executive director and the chairman of the board of trustees or their authorized representatives.
(c)  The comptroller annually shall furnish to the board of trustees a sworn statement of the amount of the retirement system's assets in the comptroller's custody.
(d)  The board of trustees may, in the exercise of its constitutional discretion to manage the funds of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian of all or part of the retirement system's assets.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.206 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 9, 10, eff. Aug. 28, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.57, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.207. Compensation of Employees; Payment of Expenses

Sec. 840.207.  COMPENSATION OF EMPLOYEES;  PAYMENT OF EXPENSES.  (a)  The board of trustees shall compensate all persons whom it employs and shall pay all expenses necessary to operate the retirement system at rates and in amounts approved by the board.  Those rates and amounts may not exceed those paid for the same or similar service for the state.
(b)  The board of trustees shall pay compensation and expenses required by Subsection (a) from an appropriate account of the retirement system.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.207 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 840.209. Interest in Investment Profits Prohibited

Sec. 840.209.  INTEREST IN INVESTMENT PROFITS PROHIBITED.  Except for an interest in retirement funds as a member of the retirement system, a trustee or employee of the board of trustees may not have a direct or indirect interest in the gains or profits of any investment made by the board and may not receive any pay or emolument for services other than the person's designated compensation and authorized expenses.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.209 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.301. Investment of Assets

Sec. 840.301.  INVESTMENT OF ASSETS.  (a)  The board of trustees may, under the standard of care provided by Section 840.303, invest and reinvest the retirement system's assets and may commingle assets of the trust fund with the assets of the Employees Retirement System of Texas, including its trust fund and the law enforcement and custodial officer supplemental retirement fund, for investment purposes, as long as proportionate ownership records are maintained and credited.
(b)  The board of trustees shall:
(1)  invest the assets of the retirement system as a single fund without distinction as to their source;  and
(2)  hold securities purchased with the assets collectively for the proportionate benefit of all accounts of the system established under Section 840.305(b).
(c)  For purposes of the investment authority of the board of trustees under Section 67, Article XVI, Texas Constitution, "securities" means any investment instrument within the meaning of the term as defined by Section 4001.068, 15 U.S.C. Section 77b(a)(1), or 15 U.S.C. Section 78c(a)(10).
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Amended by Acts 1989, 71st Leg., ch. 138, Sec. 2, eff. May 25, 1989.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.301 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 1100, Sec. 4.06(a), eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 791, Sec. 40, eff. Sept. 1, 1993;  Acts 1999, 76th Leg., ch. 1541, Sec. 32, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.22, eff. January 1, 2022.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.3011. Custody and Investment of Assets Pending Transactions

Sec. 840.3011.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's cash or securities pending completion of an investment transaction and may authorize such custodian to invest the cash so held in such short-term securities as the board of trustees determines, subject only to the provisions of Section 840.301 of this subtitle.
Added by Acts 1989, 71st Leg., ch. 251, Sec. 11, eff. Aug. 28, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.3012. Securities Lending

Sec. 840.3012.  SECURITIES LENDING.  (a)  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's securities and to lend the securities under rules adopted by the board of trustees and as required by this section.
(b)  To be eligible to lend securities under this section, a bank or brokerage firm must:
(1)  be experienced in the operation of a fully secured securities loan program;
(2)  maintain adequate capital in the prudent judgment of the retirement system to assure the safety of the securities;
(3)  execute an indemnification agreement satisfactory in form and content to the retirement system fully indemnifying the retirement system against loss resulting from borrower default in its operation of a securities loan program for the system's securities;  and
(4)  require any securities broker or dealer to whom it lends securities belonging to the retirement system to deliver to and maintain with the custodian collateral in the form of cash or United States government securities in an amount equal to not less than 100 percent of the market value, from time to time, of the loaned securities.
Added by Acts 1989, 71st Leg., ch. 251, Sec. 11, eff. Aug. 28, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 36, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.3013. Nominee to Hold Securities

Sec. 840.3013.  NOMINEE TO HOLD SECURITIES.  (a)  The assets of the retirement system may be held in the name of agents, nominees, depository trust companies, or other entities designated by the board of trustees.
(b)  The records and all relevant reports or accounts of the retirement system must show the ownership interest of the retirement system in these assets and the facts regarding the system's holdings.
(c)  A trustee or employee of the retirement system shall have no personal economic interest in any entity listed in Subsection (a), but shall undertake such action and duties with respect to these entities as the board of trustees determines to be in the interest of the retirement system.  This subsection does not prohibit:
(1)  an interest in the assets as a member of the retirement system;
(2)  the right to receive expense reimbursements at the same rate that the board member or employee would have received as a board member or employee;  and
(3)  such indemnification as is authorized by the board of trustees.
(d)  The records of an agent, nominee, or other entity that are maintained by the retirement system are subject to audit by the state auditor.
Added by Acts 1989, 71st Leg., ch. 251, Sec. 12, eff. Aug. 28, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.303. Duty of Care

Sec. 840.303.  DUTY OF CARE.  The assets of the retirement system shall be invested and reinvested without distinction as to their source in accordance with Section 67, Article XVI, Texas Constitution. A determination of whether the board of trustees has exercised prudence with respect to an investment decision must be made taking into consideration the investment of all assets of the trust or all assets of the collective investment vehicle, as applicable, over which the board has management and control, rather than considering the prudence of a single investment of the trust or the collective investment vehicle, as applicable.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 37, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 1111, Sec. 32, eff. Sept. 1, 2003.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 37, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 1103, Sec. 12, eff. Jan. 1, 2004.
Reenacted by Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 29, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.304. Cash on Hand

Sec. 840.304.  CASH ON HAND.  (a)  The board of trustees shall keep a sufficient amount of cash on hand to make payments as they become due each year under the retirement system.
(b)  The amount of cash on hand may not exceed 10 percent of the total amount in the funds of the retirement system on deposit with the comptroller.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.304 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.59, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.305. Establishment of Fund and Accounts

Sec. 840.305.  ESTABLISHMENT OF FUND AND ACCOUNTS.  (a)  A trust fund for the Judicial Retirement System of Texas Plan Two is established in the state treasury.
(b)  The board of trustees may establish such accounts for money in the trust fund of the retirement system as it considers necessary, in addition to members' individual accounts, for the administration of the system.  All assets of the retirement system are creditable, according to the purpose for which they are held, to an appropriate account.
(c)  The retirement system may transfer assets from one account to another, except from one member's individual account to another's, to pay benefits and administrative expenses as needed.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.305 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 E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter D. Management of Assets › Section 840.306. Interest Rate

Sec. 840.306.  INTEREST RATE.  (a)  Except as provided by Section 840A.103 or 840A.104, interest on money in a member's individual account in the retirement system is earned monthly and is computed at the rate of five percent a year on the mean balance of the member's account for the fiscal year.
(b)  Unless an account is closed before the last day of the fiscal year, interest is computed for the fiscal year and is credited to the member's account as of the last day of the fiscal year.
(c)  If an account is closed before the last day of the fiscal year, interest is computed for the following period:
(1)  if the account is closed because of death, from the first day of the fiscal year through the last day of the month that preceded the month in which the member's death occurred;
(2)  if the account is closed by withdrawal of accumulated contributions, from the first day of the fiscal year through the last day of the month that precedes the month in which the withdrawal request is validated by the retirement system;  or
(3)  if the account is closed because of retirement, from the first day of the fiscal year through the effective date of retirement.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.306 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 1092 (S.B. 1245), Sec. 14, eff. June 18, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle E - Judicial Retirement System of Texas Plan Two › Chapter 840 - Administration › Subchapter E. Miscellaneous Administrative Procedures › Section 840.402. Retirement System Records

Sec. 840.402.  RETIREMENT SYSTEM RECORDS.  Records of members, annuitants, retirees, beneficiaries, and alternate payees of the retirement system are confidential and are not subject to public disclosure and are exempt from the provisions of Chapter 552.  Records maintained as confidential under this section may be released or received in the manner provided by Section 815.503.
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 75.402 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.95(98), eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1541, Sec. 33, eff. Sept. 1, 1999;  Acts 2001, 77th Leg., ch. 1231, Sec. 25, eff. Sept. 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1308 (H.B. 2559), Sec. 30, eff. September 1, 2009.