Tex. Gov't Code § 802.101 · Subchapter B. STUDIES AND REPORTS
ACTUARIAL VALUATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body of a public retirement system shall employ an actuary, as a full-time or part-time employee or as a consultant, to make a valuation at least once every three years of the assets and liabilities of the system on the basis of assumptions and methods that are reasonable in the aggregate, considering the experience of the program and reasonable expectations, and that, in combination, offer the actuary's best estimate of anticipated experience under the program. The valuation must include a recommended contribution rate needed for the system to achieve and maintain an amortization period that does not exceed 30 years.
(b) On the basis of the valuation, the actuary shall make recommendations to the governing body of the public retirement system to ensure the actuarial soundness of the system. The actuary shall define each actuarial term and enumerate and explain each actuarial assumption used in making the valuation. This information must be included either in the actuarial study or in a separate report made available as a public record.
(c) The governing body of a public retirement system shall file with the State Pension Review Board a copy of each actuarial study and each separate report made as required by law.
(d) 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.).
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 196, ch. 18, Sec. 4, eff. Nov. 10, 1981; Acts 1985, 69th Leg., ch. 143, Sec. 4, eff. Sept. 1, 1985. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.101 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 940 (H.B. 3310), Sec. 3, eff. June 18, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.802.htm
- Text hash
- sha256 32cd29d9dc6bbbce0f4ff9c1a6d1fd0ee2526c6be5fa0db9e4c0e66c8df7545e
- 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
Cited by 6 provisions
Provisions in this library whose text cites Tex. Gov't Code § 802.101. Each shows the citation as that text prints it.
Government Code
- Tex. Gov't Code § 801.209PUBLIC RETIREMENT SYSTEM REPORTS AND INFORMATION.Printed as Sections 802.101, 802.103, 802.104, 802.105, 802.108, 802.109, 802.2015, and 802.2016
- Tex. Gov't Code § 802.002EXEMPTIONS.Printed as Section 802.101(b) | Sections 802.101(a), 802.101(b), 802.101(d), 802.102, 802.103(a), 802.103(b), 802.2015, 802.2016, 802.202, 802.203, 802.204, 802.205, 802.206, and 802.207 | Sections 802.101, 802.1012, 802.1014, 802.102, 802.103, 802.104, and 802.202(d) | Sections 802.101, 802.1012, 802.1014, 80
- Tex. Gov't Code § 802.003WRIT OF MANDAMUS.Printed as Section 802.101(a), 802.101(d), 802.102, 802.103(a), or 802.104
- Tex. Gov't Code § 802.1012AUDITS OF ACTUARIAL VALUATIONS, STUDIES, AND REPORTS.Printed as Section 802.101 | Section 802.101(d)
- Tex. Gov't Code § 802.2015FUNDING SOUNDNESS RESTORATION PLAN.Printed as Section 802.101(a)
- Tex. Gov't Code § 802.2016FUNDING SOUNDNESS RESTORATION PLAN FOR CERTAIN PUBLIC RETIREMENT SYSTEMS.Printed as Section 802.101(a)
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.