reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter C. Officers and Employees of Board of Trustees › Section 845.208. Compensation of Employees

Sec. 845.208.  COMPENSATION OF EMPLOYEES.  The board of trustees shall determine the amount of compensation that employees of the retirement system receive.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.208 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.302. Custody and Investment of Assets Pending Transactions

Sec. 845.302.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  The board of trustees, in the exercise of its discretion to manage the assets of the retirement system, may 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 the custodian to invest the cash so held in such short-term securities as the board of trustees determines.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.302 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 245, Sec. 34, eff. May 27, 1995.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.303. Securities Lending

Sec. 845.303.  SECURITIES LENDING.  (a)  The board of trustees, in the exercise of its discretion to manage the assets of the retirement system, may 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 operations of a fully secured securities lending program;
(2)  maintain capital adequate 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; 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, the market value of which must equal not less than 100 percent of the market value, from time to time, of the loaned securities.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 245, Sec. 35, eff. May 27, 1995.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 75, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.305. Crediting System Assets

Sec. 845.305.  CREDITING SYSTEM ASSETS.  (a)  The retirement system shall deposit all receipts with a depository designated under Section 845.109 or a custodian designated under Section 845.302.
(b)  All assets of the pension trust of the retirement system shall be credited according to the purpose for which they are held to one of the following funds:
(1)  employees saving fund;
(2)  subdivision accumulation fund;
(3)  closed subdivision annuity reserve fund;
(4)  income fund;
(5)  endowment fund; or
(6)  expense fund.
(c)  Amounts contributed by a subdivision to provide benefits under the optional group term life program for its participating employees and retirees shall be deposited to the optional group term life fund and maintained by the board of trustees as the optional group term life trust.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 215, ch. 18, Sec. 57, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.305 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 309, Sec. 22, eff. Dec. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 24, eff. January 1, 2006.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 76, eff. January 1, 2008.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 29, eff. January 1, 2010.
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 5, eff. June 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.306. Employees Saving Fund

Sec. 845.306.  EMPLOYEES SAVING FUND.
(a)  The retirement system shall deposit in a member's individual account in the employees saving fund:
(1)  the amount of contributions to the retirement system deducted from the member's compensation;
(2)  interest allowed in accordance with this subtitle;
(3)  the contribution made by a member in an amount equal to the amount withdrawn to reinstate service credit under Section 843.003;
(4)  the amount deposited by a member in accordance with Section 843.0031; and
(5)  the amount contributed by a member in accordance with Section 843.601(b) to establish current service credit for military service under the Uniformed Services Employment and Reemployment Rights Act of 1994 (38 U.S.C. Section 4301 et seq.).
(b)  The retirement system shall establish and maintain a separate member individual account for each subdivision with which the member has credited service.
(c)  On December 31 of each year, the retirement system shall credit to each member's individual account interest as allowed by this subtitle on the amount of accumulated contributions credited to the member's account on January 1 of that year.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 215, ch. 18, Sec. 58, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.306 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 24, eff. Aug. 26, 1991;  Acts 1999, 76th Leg., ch. 427, Sec. 51, eff. Dec. 31, 1999;  Acts 2001, 77th Leg., ch. 122, Sec. 46, eff. Dec. 31, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 25, eff. January 1, 2006.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.307. Subdivision Accumulation Fund

Sec. 845.307.  SUBDIVISION ACCUMULATION FUND.  (a)  The retirement system shall credit or charge to the account of a participating subdivision in the subdivision accumulation fund:
(1)  all benefit contributions made by the subdivision to the system pursuant to Section 845.404(a)(2);
(2)  net investment income or loss allocated to the fund under Section 845.315;
(3)  amounts deposited by the subdivision under Section 845.408;
(4)  the withdrawal charge for reinstatement of service credit as provided by Section 843.003; and
(5)  other credits and charges that may be authorized under this subtitle.
(b)  Subject to Subsection (c), the retirement system shall pay from the subdivision accumulation fund all payments for annuities and other benefit payments granted by a participating subdivision.
(c)  The board of trustees may proportionately reduce all payments under prior service annuities and supplemental annuities at any time and for a period necessary to prevent payments under those annuities for a year from exceeding the amount available in the participating subdivision's account.
(d)  If credited service previously forfeited is reinstated in accordance with Section 843.003, the retirement system shall charge the subdivision's account in the subdivision accumulation fund with the necessary reserves to fund the credits restored to the member.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 216, ch. 18, Sec. 59, eff. Nov. 10, 1981;  Acts 1985, 69th Leg., ch. 491, Sec. 25, eff. June 12, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.307 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 25, eff. Jan. 1, 1992;  Acts 1997, 75th Leg., ch. 309, Sec. 23, eff. Dec. 1, 1997;  Acts 1999, 76th Leg., ch. 427, Sec. 52, eff. Dec. 31, 1999;  Acts 2001, 77th Leg., ch. 122, Sec. 47, eff. Dec. 31, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 26, eff. January 1, 2006.
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 6, eff. June 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.308. Closed Subdivision Annuity Reserve Fund

Sec. 845.308.  CLOSED SUBDIVISION ANNUITY RESERVE FUND.  (a)  The retirement system shall deposit and hold in the closed subdivision annuity reserve fund all reserves for annuities payable to annuitants who were members of subdivisions that terminated participation with the retirement system under Subchapter A-1, Chapter 842.
(b)  The retirement system shall pay from the closed subdivision annuity reserve fund annuities described by Subsection (a) and all benefits in lieu of those annuities as provided by this subtitle.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.308 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 7, eff. June 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.309. Income Fund

Sec. 845.309.  INCOME FUND.  (a)  The income fund shall account for the determination and allocation of net investment income or loss.
(b)  Net investment income or loss will be determined annually as of December 31.
(c)  Net investment income or loss will be allocated each year in accordance with Section 845.315.
(d)  Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(14), eff. January 1, 2006.
(e)  Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(14), eff. January 1, 2006.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.309 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 309, Sec. 24, eff. Dec. 1, 1997;  Acts 2003, 78th Leg., ch. 621, Sec. 31, eff. Jan. 1, 2004.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 27, eff. January 1, 2006.
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 33(14), eff. January 1, 2006.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 30, eff. January 1, 2010.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 31, eff. January 1, 2010.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.310. Endowment Fund

Sec. 845.310.  ENDOWMENT FUND.
(a)  The endowment fund consists of the general reserves account and other accounts as necessary.
(b)  Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.
(c)  The retirement system shall credit or charge to the general reserves account amounts allocated to the endowment fund in accordance with Section 845.315.
(c-1)  As of December 31, the board of trustees shall provide from the general reserves account the amount needed to pay the retirement system's estimated operating expenses for the next fiscal year.
(d)  The board of trustees may allocate any amount in the endowment fund to any other account or fund in the pension trust.
(e)  Any allocation of reserves to an account of a subdivision to which Section 842.052, 842.053, or 845.317 applies must be specifically authorized by board resolution.
(f)  Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.310 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 23, eff. Aug. 26, 1991;  Acts 1995, 74th Leg., ch. 245, Sec. 36, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 309, Sec. 25, eff. Dec. 1, 1997;  Acts 1999, 76th Leg., ch. 427, Sec. 53, eff. Dec. 31, 1999;  Acts 2001, 77th Leg., ch. 122, Sec. 48, eff. Dec. 31, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 28, eff. January 1, 2006.
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 33(15), eff. January 1, 2006.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.311. Expense Fund

Sec. 845.311.  EXPENSE FUND.  The expense fund shall account for the administrative revenues and expenses of the 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. 55.311 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 309, Sec. 26, eff. Dec. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 29, eff. January 1, 2006.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.312. Optional Group Term Life Fund

Sec. 845.312.  OPTIONAL GROUP TERM LIFE FUND.  (a)  The retirement system shall deposit in the optional group term life fund contributions paid by subdivisions to the retirement system to provide optional group term life benefits in accordance with Section 845.406.  The retirement system may not establish separate accounts in the fund for subdivisions participating in the optional group term life program but shall credit contributions to a single account.
(b)  The retirement system shall pay benefits under the optional group term life program only from money in the optional group term life fund, and the benefits are not an obligation of other funds of the system.
(c)  The effective participation date of a subdivision is the first day of any calendar month after the month in which the subdivision notifies the board of its election to enter the fund.
Added by Acts 1981, 67th Leg., 1st C.S., p. 216, ch. 18, Sec. 60, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.3111 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 427, Sec. 54, eff. Dec. 31, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 77, eff. January 1, 2008.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 78, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.313. Disbursements

Sec. 845.313.  DISBURSEMENTS.  (a)  Disbursements from the assets of the retirement system may be made by check, electronic funds transfer, or any other means generally available within the banking industry and must be signed or otherwise authorized by a person designated for that purpose in accordance with Section 845.108.
(b)  When a check or fund transfer is properly signed or otherwise authorized, a depository with which assets of the system are deposited shall accept and pay the check or complete the fund transfer. The depository is released from liability for payment made on the check or authorized fund transfer.
(c)  The retirement system shall make payments by electronic funds transfer to annuitants whose first annuity payment under this subtitle occurs after January 1, 2002, except that the system may make payment by check to an annuitant if making the payment by electronic funds transfer would be impractical for the system or if the annuitant properly notifies the system that:
(1)  receiving the payment by electronic funds transfer would be impractical for the person;
(2)  receiving the payment by electronic funds transfer would be more costly to the person than receiving the payment by check;  or
(3)  the person is unable to establish a qualifying account at a financial institution to receive electronic funds transfers.
(d)  If payment by check to an individual would be, or has become, impractical, insecure, or proportionally more costly for the retirement system than payment by check to other persons, the system may hold or suspend any payment and require the individual to accept payment by another means or method that is practical, secure, and cost-effective.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.312 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 309, Sec. 27, eff. Dec. 1, 1997;  Acts 2001, 77th Leg., ch. 122, Sec. 49, eff. Dec. 31, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 79, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.314. Interest Rates

Sec. 845.314.  INTEREST RATES.  Unless this subtitle expressly states another specified rate of interest, for periods beginning after December 31, 1996, the annual rate of interest is seven percent.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 217, ch. 18, Sec. 61, eff. Nov. 10, 1981;  Acts 1985, 69th Leg., ch. 491, Sec. 26, 27, eff. June 12, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.313 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 26, eff. Jan. 1, 1992;  Acts 1995, 74th Leg., ch. 245, Sec. 37, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 309, Sec. 28, eff. Dec. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 80, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.315. Annual Allocation of Net Investment Income or Loss

Sec. 845.315.  ANNUAL ALLOCATION OF NET INVESTMENT INCOME OR LOSS.  (a)  As of December 31 of each year, the board of trustees shall make the following allocations that in the aggregate equal the net investment income or loss for the year:
(1)  to the closed subdivision annuity reserve fund, interest as allowed under this subtitle on the mean amount in the closed subdivision annuity reserve fund during that year;
(2)  to the optional group term life fund, interest as allowed under this subtitle on the mean amount in the optional group term life fund during that year;
(3)  to the general reserves account of the endowment fund, a positive or negative amount determined by the board;
(4)  to the employees saving fund, current interest as allowed under this subtitle on the member account balances on January 1 of that year of all persons who are members on December 31 of that year;
(5)  to the accounts of subdivisions, other than subdivisions otherwise described by this section, positive or negative amounts as determined under rules adopted by the board prescribing the allocation methodology for the accounts; and
(6)  to the accounts of subdivisions to which Section 842.052 or 842.053 applies, positive or negative amounts as determined by the board, and if a subdivision terminates participation before December 31 of that year, the board shall determine the allocation amount and transfer date before December 31 of that year.
(b)  The account of a subdivision that has ceased participation according to Section 845.317(a) will not receive an allocation under this section.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 217, ch. 18, Sec. 62, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.314 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 27, eff. Jan. 1, 1992;  Acts 1997, 75th Leg., ch. 309, Sec. 29, 33, eff. Dec. 1, 1997;  Acts 1999, 76th Leg., ch. 427, Sec. 55, eff. Dec. 31, 1999;  Acts 2001, 77th Leg., ch. 122, Sec. 50, eff. Dec. 31, 2001;  Acts 2003, 78th Leg., ch. 621, Sec. 32, eff. Jan. 1, 2004.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 30, eff. January 1, 2006.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 32, eff. September 1, 2009.
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 8, eff. June 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.316. Transfer of Assets on Retirement

Sec. 845.316.  TRANSFER OF ASSETS ON RETIREMENT.
(a)  When a member retires, the retirement system shall transfer from the employees saving fund to the subdivision accumulation fund, the member's accumulated contributions.
(b)  When a member retires from a subdivision that has terminated participation with the retirement system under Subchapter A-1, Chapter 842, the retirement system shall transfer the member's individual account to the closed subdivision annuity reserve fund.
(c)  Repealed by Acts 2007, 80th Leg., R.S., Ch. 873, Sec. 92(30), eff. January 1, 2008.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 217, ch. 18, Sec. 63, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.315 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 28, eff. Aug. 26, 1992;  Acts 2001, 77th Leg., ch. 122, Sec. 51, eff. Dec. 31, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 81, eff. January 1, 2008.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 82, eff. January 1, 2008.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 92(30), eff. January 1, 2008.
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 9, eff. June 1, 2015.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.317. Payment to Formerly Participating Subdivision

Sec. 845.317.  PAYMENT TO FORMERLY PARTICIPATING SUBDIVISION.  (a)  If a participating subdivision, other than a subdivision described by Subsection (b), has no employees who are members of the retirement system and has no present or potential liabilities resulting from the participation of former employees, the subdivision's participation in the system stops and the system shall repay to the subdivision on application any amount in the subdivision accumulation fund that is credited to the subdivision.
(b)  If the participation of a subdivision has terminated under Section 842.052 or 842.053 and the subdivision has no present or potential liabilities resulting from the participation of current or former employees, the retirement system, after application by the subdivision or its governmental successor in interest, shall pay to the subdivision or its governmental successor any remaining credit to the account of the subdivision in the subdivision accumulation fund.
(c)  A subdivision that has terminated participation in the retirement system has no right or claim to any amounts in the system, except as provided by this section.
(d)  If a participating subdivision has ceased to exist and diligent efforts by the retirement system to identify a governmental entity as the successor in interest to the subdivision have been unsuccessful, the board of trustees may close the subdivision's account and transfer the remaining credit to the endowment fund.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.316 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 30, eff. January 1, 2006.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 83, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter D. Management of Assets › Section 845.318. Consolidation of County's Accounts in Subdivision Accumulation Fund; Return of Excess Funds

Sec. 845.318.  CONSOLIDATION OF COUNTY'S ACCOUNTS IN SUBDIVISION ACCUMULATION FUND; RETURN OF EXCESS FUNDS.  (a)  If a county that has provided for participation of county hospital employees separately from other county employees stops operating a county hospital, the commissioners court of the county, by order, may direct the retirement system to consolidate the separate accounts of the county in the subdivision accumulation fund.
(b)  The retirement system shall consolidate the accounts and after consolidation shall charge each obligation of the county arising under this subtitle because of service performed by employees of the county against the consolidated account.
(c)  If the participation of a county hospital as a subdivision separate from other county employees is terminated under this subtitle, the retirement system shall pay to the county any excess funds remaining in the subdivision accumulation fund to the credit of the account of the county hospital.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.317 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 84, eff. January 1, 2008.
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 85, eff. January 1, 2008.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.402. Member Contributions

Sec. 845.402.  MEMBER CONTRIBUTIONS.  (a)  Each participating subdivision, by order or resolution of its governing body, shall designate the rate of member contributions for its employees.  The subdivision may elect a rate of four, five, six, or seven percent of the current service compensation of its employees.
(b)  After timely notice to the board of trustees, the governing body of a participating subdivision may increase the rate of its member contributions effective with the first pay period beginning in the following calendar year.
(c)  After timely notice to the board of trustees, the governing body of a participating subdivision may reduce the rate of its member contributions effective with the first pay period beginning in the following calendar year.
(d)  to (f) Repealed by Acts 1997, 75th Leg., ch. 309, Sec. 33, eff. Dec. 31, 1997.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 491, Sec. 28, eff. June 12, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.402 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 29, eff. Aug. 26, 1991;  Acts 1997, 75th Leg., ch. 309, Sec. 30, 33, eff. Dec. 1, 1997;  Acts 2003, 78th Leg., ch. 621, Sec. 33, eff. Jan. 1, 2004.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 33, eff. January 1, 2010.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.4031. Contributions in Anticipation of Participation

Sec. 845.4031.  CONTRIBUTIONS IN ANTICIPATION OF PARTICIPATION.  (a)  After a subdivision has officially elected to join the retirement system and has specified the date for its participation to begin, and before the board of trustees has approved its participation, the subdivision may, with the consent of the director, begin deducting from an employee's compensation for each payroll period beginning on or after the specified participation date the contribution that would be deducted if the subdivision were then participating.
(b)  The subdivision shall collect and segregate the amounts deducted from its employees' compensation and the contributions that the subdivision would be required to make under this subtitle if it were then participating.
(c)  The period during which contributions may be deducted from an employee's compensation in anticipation of board approval of participation may not exceed six months and may not extend into a subsequent calendar year without consent of the board of trustees.  During the period that board approval is pending, the subdivision may not participate in, and the subdivision's employees may not be covered by, the optional group term life program.
(d)  On approval of participation, the subdivision shall immediately transfer to the retirement system, for credit to the appropriate funds within the system, the amounts collected and segregated under Subsection (b).  If the subdivision previously elected to participate in the optional group term life program, participation in that program begins on the first day of the month following the month in which the board of trustees approves participation in the system.
(e)  If the board of trustees disapproves the subdivision's participation in the retirement system, the subdivision shall pay all employee contributions collected and segregated in anticipation of board approval to the employees from whom the contributions were withheld.
Added by Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 86, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.404. Collection of Subdivision Contributions

Sec. 845.404.  COLLECTION OF SUBDIVISION CONTRIBUTIONS.  (a)  Before the 16th day of each month, each participating subdivision shall pay or cause to be paid to the retirement system at the system's office:
(1)  the member contributions, or "picked-up" member contributions, provided for by Sections 845.402 and 845.403, which shall be deposited to the individual accounts of the members;  and
(2)  the contributions that a subdivision is required to make under this subtitle, which shall be deposited to the account of the subdivision in the subdivision accumulation fund.
(b)  Unless otherwise provided for and paid by a subdivision, a subdivision shall pay its contributions to the retirement system from:
(1)  the fund from which compensation is paid to members;  or
(2)  the general fund of the subdivision.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1985, 69th Leg., ch. 491, Sec. 30, eff. June 12, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.404 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1999, 76th Leg., ch. 427, Sec. 58, eff. Dec. 31, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.405. Alternative Periods for Administrative Compliance

Sec. 845.405.  ALTERNATIVE PERIODS FOR ADMINISTRATIVE COMPLIANCE.  (a)  Notwithstanding any other provision of this subtitle, the board of trustees may authorize a subdivision to remit to the retirement system contributions, deposits, and other payments on the basis of a period that is less than a month, including a weekly, biweekly, or other semimonthly period.  A subdivision authorized to remit amounts more frequently than monthly shall make reports and filings and perform other actions accordingly, and the retirement system shall credit payments accordingly.
(b)  The board of trustees may make an authorization under Subsection (a) by rule applicable to all subdivisions similarly situated or by order applicable to designated subdivisions.  A rule adopted under this subsection is amendable or revocable in the manner provided for adoption, amendment, or repeal of rules generally. An order adopted under this subsection is revocable wholly or partly by subsequent board order.
(c)  If the board of trustees adopts a rule or order under Subsection (b), the board shall also adopt rules, applicable to a subdivision electing or designated to take actions described by this section more frequently than monthly, to alter the periods required for submission of payments and reports, including the period when a late penalty begins to accrue or is deducted from a subdivision's account in the subdivision accumulation fund, in a manner consistent with the periods provided by this subtitle.
(d)  A participant may not receive less credited service, service credit, or benefits due to an authorization under this section than the participant would have received on a monthly basis.
Added by Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 34, eff. January 1, 2010.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.407. Penalty for Late Contributions

Sec. 845.407.  PENALTY FOR LATE CONTRIBUTIONS.  (a)  Except as provided by Subsections (c), (d), and (e), a participating subdivision that fails to provide the information required by Section 845.403 or to pay all contributions required by this subchapter to be made and remitted to the retirement system not later than the 15th day of the month in which they become due shall pay a penalty under this section.  The penalty for a past-due monthly remission is equal to interest on the past-due amounts for each day past due at a nominal interest rate of 12 percent, plus a $500 administrative fee.  If the penalty is not paid within three months after the date notice of the penalty has been sent to the subdivision, the retirement system shall deduct the penalty from the subdivision's account in the subdivision accumulation fund.  The interest portion of the penalty shall be deposited by the retirement system in the distributable income account of the income fund.  The administrative fee portion of the penalty shall be deposited by the retirement system in the expense fund.
(b)  Payments and required reports are considered to be made when received by the retirement system.
(c)  A penalty will not be assessed under this section for a late payment or report made in a document sent to the correct address:
(1)  by certified mail, return receipt requested, not later than the 10th day of the month in which the payment or report becomes due;  or
(2)  using a same-day or overnight delivery method, approved by the board of trustees, not later than the 14th day of the month in which the payment or report becomes due.
(d)  If the retirement system does not receive a payment or report, a penalty will not be assessed under this section if the subdivision provides proof satisfactory to the system that the document containing the payment or report was sent in accordance with Subsection (c).
(e)  The retirement system may extend the due date provided by this section if a subdivision applies for an extension before the due date and the director determines that good cause exists for the extension and that the need for the extension is not caused by neglect, indifference, or lack of diligence.
Added by Acts 1999, 76th Leg., ch. 427, Sec. 60, eff. Dec. 31, 1999.  Amended by Acts 2001, 77th Leg., ch. 122, Sec. 52, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 621, Sec. 34, eff. Jan. 1, 2004.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 35, eff. January 1, 2010.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter E. Collection of Contributions › Section 845.408. Additional Optional Deposits by Subdivisions

Sec. 845.408.  ADDITIONAL OPTIONAL DEPOSITS BY SUBDIVISIONS.  In addition to the deposits that a subdivision is required to make under this subtitle, the governing body of a participating subdivision may elect to deposit to the subdivision's account in the subdivision accumulation fund one or more lump-sum payments.  Once a payment is deposited, it cannot be withdrawn from that fund by the subdivision.
Added by Acts 1999, 76th Leg., ch. 427, Sec. 61, eff. Dec. 31, 1999.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 845.501. Statement of Amount in Account

Sec. 845.501.  STATEMENT OF AMOUNT IN ACCOUNT.  (a)  As soon as possible after the end of each calendar year, the board of trustees shall send to the governing body of each subdivision and to each requesting member an annual statement that contains the basic financial statements of the retirement system.
(b)  The board of trustees shall furnish to a member, on written request, a statement of the amount credited to the member's individual account.  During a calendar year, the board is not required to furnish to a member more than one statement requested under this subsection.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.501 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 309, Sec. 31, eff. Dec. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 845.502. Interest in Assets

Sec. 845.502.  INTEREST IN ASSETS.  A particular person or subdivision has no right in a specific security or in an item of cash other than an undivided interest in the assets of the 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. 55.502 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 845.503. Authority to Recoup or Make Adjustments for Payments Made in Error

Sec. 845.503.  AUTHORITY TO RECOUP OR MAKE ADJUSTMENTS FOR PAYMENTS MADE IN ERROR.  (a)  The retirement system may reduce future payments of benefits based on the account of a member, a retiree, or other former member to recoup an amount overpaid or otherwise paid in error to or on the behalf of a participant.  If no future payments are due, the retirement system may recover the overpayment in any manner that is permitted for the collection of any other debt.
(b)  The retirement system may not recover from a participant any overpayment made more than three years before the date the overpayment is discovered.  This subsection does not apply to an overpayment a reasonable person should know the person is not entitled to receive.
(c)  The retirement system may adjust amounts in a subdivision's account in the subdivision accumulation fund to correct an error caused by an act or omission of the subdivision.
Added by Acts 2003, 78th Leg., ch. 621, Sec. 35, eff. Jan. 1, 2004.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 873 (H.B. 1587), Sec. 88, eff. January 1, 2008.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 36, eff. January 1, 2010.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 845.504. Excess Benefit Program

Sec. 845.504.  EXCESS BENEFIT PROGRAM.  (a)  If the board of trustees determines that it is in the interest of the retirement system and will benefit members and annuitants, the board by rule may establish an excess benefits program for the payment of benefits under Section 415(m) of the Internal Revenue Code of 1986, and its subsequent amendments, that would otherwise be barred by the limitation on benefits imposed by Section 415 of that code.
(b)  Notwithstanding any other provision of this subtitle, the board of trustees by rule may provide for the transfer of contributions as part of the excess benefits program in a manner consistent with a governmental excess benefit arrangement.
Added by Acts 2003, 78th Leg., ch. 621, Sec. 35, eff. Jan. 1, 2004.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle F - Texas County and District Retirement System › Chapter 845 - Administration › Subchapter F. Miscellaneous Administrative Procedures › Section 845.507. Qualification

Sec. 845.507.  QUALIFICATION.  It is intended that this subtitle be construed and administered in a manner that the retirement system will be considered qualified under Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401).  The board of trustees may adopt rules that it determines necessary for the retirement system to be considered qualified.  Rules adopted by the board of trustees relating to qualification issues are considered a part of the plan.
Added by Acts 1997, 75th Leg., ch. 309, Sec. 32, eff. Dec. 1, 1997.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle G - Texas Municipal Retirement System › Chapter 851 - General Provisions › Subchapter A. General Provisions › Section 851.0011. Alternative Definition of Department

Sec. 851.0011.  ALTERNATIVE DEFINITION OF DEPARTMENT.  (a)  This section applies only with respect to a municipality:
(1)  with a population of less than 200,000;
(2)  that is located in a county with a population of not less than 2.5 million and not more than 4 million;
(3)  that has a regularly organized fire department for which a retirement system and fund have been established under Section 4, Texas Local Fire Fighters Retirement Act (Article 6243e, Vernon's Texas Civil Statutes); and
(4)  that before January 1, 2017, has one or more departments participating in the retirement system.
(b)  Notwithstanding Section 851.001(7), "department" in this subtitle includes employees of a municipality described by Subsection (a) who are allowed to participate in the retirement system under Section 31A, Texas Local Fire Fighters Retirement Act (Article 6243e, Vernon's Texas Civil Statutes), because the municipality completed all actions authorized or required by that section within the time prescribed by that section.
(c)  If a municipality fails to complete all actions authorized or required by Section 31A, Texas Local Fire Fighters Retirement Act (Article 6243e, Vernon's Texas Civil Statutes), before October 1, 2018, this section expires on October 1, 2018, in accordance with Section 31A(g), Texas Local Fire Fighters Retirement Act (Article 6243e, Vernon's Texas Civil Statutes).
Added by Acts 2017, 85th Leg., R.S., Ch. 886 (H.B. 3056), Sec. 2, eff. September 1, 2017.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 48, eff. September 1, 2023.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle G - Texas Municipal Retirement System › Chapter 851 - General Provisions › Subchapter A. General Provisions › Section 851.002. Purpose of Subtitle

Sec. 851.002.  PURPOSE OF SUBTITLE.  The purpose of this subtitle is to establish a program of benefits for members, retirees, and their beneficiaries and to establish rules for the management and operation of the retirement system.  The assets of the retirement system are held in trust for the exclusive benefit of the members, the retirees, and their beneficiaries and may not be diverted.  The retirement system may not apply a forfeiture to increase a benefit that any person would otherwise receive under this subtitle.
Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 61.002 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2003, 78th Leg., ch. 599, Sec. 2, eff. Jan. 1, 2004.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle G - Texas Municipal Retirement System › Chapter 851 - General Provisions › Subchapter A. General Provisions › Section 851.003. Retirement System

Sec. 851.003.  RETIREMENT SYSTEM.  The Texas Municipal Retirement System is continued in existence and is the name by which the business of the retirement system shall be transacted, all its funds invested, and all its cash and other property held.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 61.003 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Government Code › Title 8 - Public Retirement Systems › Subtitle G - Texas Municipal Retirement System › Chapter 851 - General Provisions › Subchapter A. General Provisions › Section 851.004. Powers, Privileges, and Immunities

Sec. 851.004.  POWERS, PRIVILEGES, AND IMMUNITIES.  (a)  The retirement system has the powers, privileges, and immunities of a corporation, as well as the powers, privileges, and immunities conferred by this subtitle.
(b)  The board of trustees, director, members of an advisory committee or medical board appointed by the board of trustees, and staff of the retirement system are not liable for any action taken or omission made or suffered by them in good faith in the performance of any duty in connection with any program, system, or benefit administered by the 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. 61.004 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 991 (S.B. 1337), Sec. 2, eff. January 1, 2020.