Tex. Gov't Code § 855.307 · Subchapter D. MANAGEMENT OF ASSETS
BENEFIT ACCUMULATION FUND: CURRENT SERVICE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The retirement system shall credit or charge to the account of a participating municipality in the benefit accumulation fund:
(1) all current service contributions made by the municipality to the retirement system;
(2) net investment income or loss allocated to the fund under Section 855.317; and
(3) the withdrawal charge for reinstatement of credited service as provided by Section 853.003.
(b) The retirement system shall pay from the account of a participating municipality in the benefit accumulation fund:
(1) all payments under annuities arising from current service credits; and
(2) refunds to certain municipalities in accordance with Section 855.319.
(c) If credited service previously canceled is reinstated in accordance with Section 853.003, the retirement system shall charge the municipality's account in the benefit accumulation fund with the necessary reserves to fund the credits based on current service that are restored to the member.
(d) The annuities payable as provided by this section are liabilities and obligations of the participating municipality for which the service was performed on which the annuities are based and are payable from the municipality's account in the benefit accumulation fund.
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. 230, ch. 18, Sec. 99, eff. Jan. 1, 1982; Acts 1989, 71st Leg., ch. 462, Sec. 6, eff. Sept. 1, 1989. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.307 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., ch. 16, Sec. 11.01(f), eff. Aug. 26, 1991.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 4, eff. May 26, 2009.
Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 24, eff. June 17, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.855.htm
- Text hash
- sha256 bc160d8b9c334eec94f1c6179ed965b096e1cdf7c235ac2afff5033ccc28e97f
- 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 § 853.003BUY BACK OF CREDITED SERVICE PREVIOUSLY CANCELED.Printed as Section 853.003
- Tex. Gov't Code § 855.317ANNUAL ALLOCATION OF NET INVESTMENT INCOME OR LOSS FROM INTEREST FUND.Printed as Section 855.317
- Tex. Gov't Code § 855.319PAYMENT TO FORMERLY PARTICIPATING MUNICIPALITY.Printed as Section 855.319
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 855.307. Each shows the citation as that text prints it.
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