Tex. Gov't Code § 845.315 · Subchapter D. MANAGEMENT OF ASSETS
ANNUAL ALLOCATION OF NET INVESTMENT INCOME OR LOSS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) As of December 31 of each year, the board of trustees shall make the following allocations that in the aggregate equal the net investment income or loss for the year:
(1) to the closed subdivision annuity reserve fund, interest as allowed under this subtitle on the mean amount in the closed subdivision annuity reserve fund during that year;
(2) to the optional group term life fund, interest as allowed under this subtitle on the mean amount in the optional group term life fund during that year;
(3) to the general reserves account of the endowment fund, a positive or negative amount determined by the board;
(4) to the employees saving fund, current interest as allowed under this subtitle on the member account balances on January 1 of that year of all persons who are members on December 31 of that year;
(5) to the accounts of subdivisions, other than subdivisions otherwise described by this section, positive or negative amounts as determined under rules adopted by the board prescribing the allocation methodology for the accounts; and
(6) to the accounts of subdivisions to which Section 842.052 or 842.053 applies, positive or negative amounts as determined by the board, and if a subdivision terminates participation before December 31 of that year, the board shall determine the allocation amount and transfer date before December 31 of that year.
(b) The account of a subdivision that has ceased participation according to Section 845.317(a) will not receive an allocation under this section.
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. 217, ch. 18, Sec. 62, eff. Nov. 10, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.314 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., ch. 460, Sec. 27, eff. Jan. 1, 1992; Acts 1997, 75th Leg., ch. 309, Sec. 29, 33, eff. Dec. 1, 1997; Acts 1999, 76th Leg., ch. 427, Sec. 55, eff. Dec. 31, 1999; Acts 2001, 77th Leg., ch. 122, Sec. 50, eff. Dec. 31, 2001; Acts 2003, 78th Leg., ch. 621, Sec. 32, eff. Jan. 1, 2004.
Amended by:
Acts 2005, 79th Leg., Ch. 506 (H.B. 633), Sec. 30, eff. January 1, 2006.
Acts 2009, 81st Leg., R.S., Ch. 300 (H.B. 407), Sec. 32, eff. September 1, 2009.
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 8, 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.845.htm
- Text hash
- sha256 e4f8973905e3644f6eb969bae99769113778f44e1528ea09731366f2021baa1b
- 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 § 842.052VOLUNTARY TERMINATION OF PARTICIPATION.Printed as Section 842.052 or 842.053
- Tex. Gov't Code § 842.053INVOLUNTARY TERMINATION OF PARTICIPATION.Printed as Section 842.052 or 842.053
- Tex. Gov't Code § 845.317PAYMENT TO FORMERLY PARTICIPATING SUBDIVISION.Printed as Section 845.317(a)
Cited by 3 provisions
Provisions in this library whose text cites Tex. Gov't Code § 845.315. Each shows the citation as that text prints it.
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