Tex. Gov't Code § 815.318 · Subchapter D. MANAGEMENT OF ASSETS
TRANSFER OF ASSETS FROM INTEREST ACCOUNT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The retirement system shall transfer from the interest account to the employees saving account amounts of interest computed under Section 815.311 at the following times:
(1) as required during the fiscal year for a member's account in the retirement system that is closed before the last day of the fiscal year; and
(2) as of the last day of the fiscal year for a member's account that is not closed before the last day of the fiscal year.
(b) As required during the year, the retirement system shall transfer from the interest account to the expense account amounts it determines necessary for the payment of the retirement system's expenses that exceed the amount of money available for those expenses.
(c) As of the last day of each fiscal year, the retirement system shall transfer from the interest account to the retirement annuity reserve account an amount equal to:
(1) five percent of the mean amount in the retirement annuity reserve account for that fiscal year; or
(2) an amount computed at a greater rate if the actuary recommends the greater rate to finance adequately the annuities payable from the retirement annuity reserve account.
(d) After making the transfers required by this section, the retirement system, as of the last day of each fiscal year, shall transfer the amount remaining in the interest account to the state accumulation account.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1985, 69th Leg., ch. 91, Sec. 16, eff. Sept. 1, 1985; Acts 1987, 70th Leg., ch. 3, Sec. 1, eff. March 12, 1987. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 25.314 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 791, Sec. 20, eff. Sept. 1, 1993; Acts 2001, 77th Leg., ch. 1231, Sec. 22, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.815.htm
- Text hash
- sha256 66f08f20be7fafe453022b668d3bf661d8af52fd25db2f66a7d525bce7790e41
- 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.
Cited by 4 provisions
Provisions in this library whose text cites Tex. Gov't Code § 815.318. Each shows the citation as that text prints it.
Government Code
- Tex. Gov't Code § 815.312STATE ACCUMULATION ACCOUNT.Printed as Section 815.318 or 815.502
- Tex. Gov't Code § 815.313RETIREMENT ANNUITY RESERVE ACCOUNT.Printed as Section 815.318, 815.319, or 815.321
- Tex. Gov't Code § 815.315EXPENSE ACCOUNT.Printed as Section 815.318
- Tex. Gov't Code § 815.322TRANSFER OF ASSETS TO ADJUST AMOUNT IN RETIREMENT ANNUITY RESERVE ACCOUNT.Printed as Section 815.318
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.