Tex. Gov't Code § 609.513 · Subchapter C. DEFERRED COMPENSATION PLANS FOR EMPLOYEES OF STATE AGENCIES
DISCRETIONARY TRANSFER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of trustees may transfer an employee's deferred amounts and investment income from a qualified investment product to the trust fund of the deferred compensation plan in which the employee participates if the board of trustees determines that the transfer is in the best interest of the plan and the employee.
(b) The board of trustees is not required to give notice of a transfer under Subsection (a) to the employee before the transfer occurs.
(c) Promptly after a transfer under Subsection (a) occurs, the board of trustees shall give to the employee a notice that:
(1) states the reason for the transfer; and
(2) requests that the employee promptly designate another qualified investment product to receive the transferred amount.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.609.htm
- Text hash
- sha256 d9e1fd72a20872c46851e50693dbdbb2b72633477ee24e1dc16876174b17cf7c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.