Tex. Gov't Code § 842.056 · Subchapter A-1. TERMINATION OF PARTICIPATION BY SUBDIVISIONS
CLASS C.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If any assets remain after the transfers are made under Sections 842.054 and 842.055, the retirement system shall make a transfer to the closed subdivision annuity reserve fund in an amount computed as necessary to fund the basic and supplemental annuities of the annuitants of the subdivision and a transfer to the individual account of each member of the class eligible to retire in an amount that equals the multiple matching credits and prior service credits of the member. If necessary, the retirement system shall proportionately reduce an individual's total credits or supplemental annuity, as applicable, based on the ratio that the individual's total actuarial equivalent of benefits described by this section bears to the aggregate total actuarial equivalent of all those benefits of the class.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 6, eff. January 1, 2006.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 1, eff. June 1, 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.842.htm
- Text hash
- sha256 05e60b08f5df8954d05984825f2c91816b718c34aa51813f4c1f74b702d4957d
- 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
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