Tex. Gov't Code § 802.2011 · Subchapter C. ADMINISTRATION OF ASSETS
FUNDING POLICY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section:
(1) "Funded ratio" means the ratio of a public retirement system's actuarial value of assets divided by the system's actuarial accrued liability.
(2) "Governmental entity" has the meaning assigned by Section 802.1012.
(3) "Statewide retirement system" means:
(A) the Employees Retirement System of Texas, including a retirement system administered by that system;
(B) the Teacher Retirement System of Texas;
(C) the Texas County and District Retirement System;
(D) the Texas Emergency Services Retirement System; and
(E) the Texas Municipal Retirement System.
(b) The governing body of a public retirement system and, if the system is not a statewide retirement system, its associated governmental entity shall:
(1) jointly, if applicable:
(A) develop and adopt a written funding policy that details a plan for achieving a funded ratio of the system that is equal to or greater than 100 percent; and
(B) timely revise the policy to reflect any significant changes to the policy, including changes required as a result of formulating and implementing a funding soundness restoration plan, including a revised funding soundness restoration plan, under Section 802.2015 or 802.2016;
(2) maintain for public review at its main office a copy of the policy;
(3) file a copy of the policy and each change to the policy with the board not later than the 31st day after the date the policy or change, as applicable, is adopted; and
(4) post a copy of the most recent edition of the policy on a publicly available Internet website in accordance with Section 802.107(c)(2).
(c) For purposes of Subsection (b)(1)(B), the written funding policy must outline any automatic contribution or benefit changes designed to prevent having to formulate a revised funding soundness restoration plan under Section 802.2015(d), including any automatic risk-sharing mechanisms that have been implemented, the adoption of an actuarially determined contribution structure, and other adjustable benefit or contribution mechanisms.
(d) The board may adopt rules necessary to implement this section.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 453 (S.B. 2224), Sec. 1, eff. September 1, 2019.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 1033 (H.B. 3898), Sec. 3, eff. September 1, 2021.
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 995d1e7cb6bac1f96e3e30d1b9ef27b649b6f053d68d03108a3bf62011fe9a82
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
- Tex. Gov't Code § 802.1012AUDITS OF ACTUARIAL VALUATIONS, STUDIES, AND REPORTS.Printed as Section 802.1012
- Tex. Gov't Code § 802.107GENERAL PROVISIONS RELATING TO REPORTS AND CONTACT INFORMATION.Printed as Section 802.107(c)(2)
- Tex. Gov't Code § 802.2015FUNDING SOUNDNESS RESTORATION PLAN.Printed as Section 802.2015 or 802.2016 | Section 802.2015(d)
- Tex. Gov't Code § 802.2016FUNDING SOUNDNESS RESTORATION PLAN FOR CERTAIN PUBLIC RETIREMENT SYSTEMS.Printed as Section 802.2015 or 802.2016
Cited by 2 provisions
Provisions in this library whose text cites Tex. Gov't Code § 802.2011. Each shows the citation as that text prints it.
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.