(d) The executive director or an authorized representative may certify the authenticity of a photograph, microphotograph, film, or electronic record of a record reproduced under this section and shall charge a fee for the certified photograph, microphotograph, film, or electronic record as provided by law. 27, eff. (a) The board of trustees shall file with the comptroller of public accounts an attested copy of a board resolution that designates the persons authorized to sign vouchers for payment from accounts of the retirement system. 1, eff. The possibility that a public entity may pay that part of a judgment that is for punitive damages shall not be disclosed in any trial in which it is alleged that a public employee is liable for punitive or exemplary damages, and that disclosure shall be grounds for a mistrial. 1389 (S.B. 825.307. Acts 2011, 82nd Leg., R.S., Ch. You are here: California / Government Code - GOV / ARTICLE 4. Renumbered from Vernon's Ann.Civ.St. 1, eff. (1) report to the retirement system in a form prescribed by the system a certification of the total amount of salary paid above the statutory minimum salary and the total amount of employer contributions due under this section for the payroll period; and. Renumbered from Vernon's Ann.Civ.St. 1359 (S.B. 15, eff. Sec. POLICIES GOVERNING RETIREMENT BENEFITS COUNSELING. 1447), Sec. 555, Sec. All compensation and expense reimbursements for an advisory committee established under this section are payable from the expense account or the retired school employees group insurance fund, as applicable. 453, Sec. 1, eff. Acts 1981, 67th Leg., p. 1876, ch. 825.513. (d) Accumulated contributions in an individual's account on the date that the individual's membership in the retirement system is terminated do not earn interest after that date. Renumbered from Vernon's Ann.Civ.St. Sept. 1, 1989; Acts 1991, 72nd Leg., 1st C.S., ch. 35.405 and amended by Acts 1989, 71st Leg., ch. (f) The board shall prepare biennially a complete and detailed written report describing and explaining any use of appropriated amounts, retirement system assets, or other resources for governmental relations, member counseling, or official publications. 1416, Sec. 1, eff. Added by Acts 1993, 73rd Leg., ch. (b) Notwithstanding any provision of Section 825.301, not more than 10 percent of the value of the total investment portfolio of the retirement system may be invested in hedge funds. Employers shall pay to the retirement system the picked-up contributions from the same source of funds that is used in paying earnings to the employees. 126 (H.B. Sept. 1, 1989. 1214 (S.B. 825) Sec. Sept. 1, 1989. Sept. 1, 1989. (a) Except as provided by Section 825.302 or 825.303 or by Subsection (e) of this section, the comptroller is the custodian of all securities and cash of the retirement system, including securities held in the name of a nominee of the retirement system. 8.54, eff. Acts 2013, 83rd Leg., R.S., Ch. Amended by Acts 1985, 69th Leg., ch. 43.) June 14, 2013. HISTORICALLY UNDERUTILIZED BUSINESS. (c) The retirement system shall periodically notify the complaint parties of the status of the complaint until final disposition. September 1, 2014. Added by Acts 1987, 70th Leg., ch. Sept. 1, 1993; Acts 1993, 73rd Leg., ch. Under sections 59A and 120 of the Customs and Excise Act, 1964 (Act No. 1, eff. Labor Subtitle B. September 1, 2014. 825.4035. (3) report in writing to the board of trustees its conclusions and recommendations on all matters referred to it. 30, eff. (c) This chapter modifies the common law of conflict of interests as applied to trustees, employees, and contracts of the retirement system to the extent that violations of the common law of conflict of interests do not void retirement system contracts. 825.406. (d) The comptroller is not responsible, under either civil or criminal law, for any action or losses with respect to assets of the retirement system while the assets are in the custody of a commercial bank as provided by Section 825.302 or 825.303 or by Subsection (e) of this section. 1691), Sec. 1667), Sec. 825.215. Sept. 1, 1995. Sept. 1, 1981. At least once every four years, the board shall redesignate its actuary after advertising for and reviewing proposals from providers of actuarial services. September 1, 2017. 107, Sec. Such payments shall be in lieu of contributions by the employees. 929, Sec. (d) After the deductions are deposited with the comptroller, the money shall be used as provided by this subtitle. 1, eff. (3) the portion of a distribution that is not includable in gross income for federal income tax purposes. Added by Acts 1995, 74th Leg., ch. 453, Sec. (a) The board of trustees shall invest and reinvest assets of the retirement system without distinction as to their source in accordance with Section 67, Article XVI, Texas Constitution. Sept. 1, 1997. Sept. 1, 1999; Acts 2003, 78th Leg., ch. May 17, 2007. Acts 2005, 79th Leg., Ch. Sept. 1, 1993; Acts 1995, 74th Leg., ch. 1, eff. 35.502 and amended by Acts 1989, 71st Leg., ch. (2) an amount equal to the state contribution rate then in effect multiplied by 100 percent of the aggregate eligible creditable compensation of all other members under Section 825.404(a-1)(2) that the employer reports to the retirement system. 1, eff. 1423, Sec. The board of trustees may acquire services described by that chapter in any manner or amount the board considers reasonable. 1691), Sec. 16, Sec. September 1, 2019. (7) interest earned on money in the account as provided by Subsections (b) and (c) and Section 825.313(c). Acts 1981, 67th Leg., p. 1876, ch. 179, Sec. 555, Sec. Begin typing to search, use arrow keys to navigate, use enter to select. 26, eff. If the retirement system acquires, through foreclosure or conveyance of deed in lieu of foreclosure, real property assets or stock in an entity the major asset of which is real property, the retirement system shall, not later than the 90th day after the date of acquisition: (1) have the real property appraised by an appraiser who is not a trustee or employee of the retirement system and who has received MAI or SRA; (2) acquire a foreclosure endorsement to the mortgagee's title insurance policy; and. Sec. 23, eff. (b) If a record is reproduced under Subsection (a), the retirement system may destroy or dispose of the original record if the system first: (1) places the reproduction or electronic record in a file conveniently accessible to retirement system personnel; and. The presiding officer shall then notify the governor and the attorney general that a potential ground for removal exists. (d) The board of trustees, by resolution recorded in its minutes, may transfer from the interest account to the expense account an amount necessary to cover the expenses of the retirement system for the fiscal year that are required to perform the fiduciary duties of the board. Sept. 1, 1981. These members must be persons who have demonstrated financial expertise, who have worked in private business or industry, and who have broad investment experience, preferably in investment of pension funds. (d) The board of trustees may invest assets of the retirement system in obligations issued, assumed, or guaranteed by the Inter-American Development Bank, the International Bank for Reconstruction and Development (the World Bank), the African Development Bank, the Asian Development Bank, and the International Finance Corporation. The system shall maintain information about parties to the complaint, the subject matter of the complaint, a summary of the results of the review or investigation of the complaint, and its disposition. Amended by Acts 1995, 74th Leg., ch. Sec. Amended by Acts 1981, 67th Leg., 1st C.S., p. 207, ch. Renumbered from Vernon's Ann.Civ.St. (A) the name of each member employed by the public junior college or public junior college district; (B) the amount of the member's salary for the most recent payroll period; (C) whether the member is a qualifying employee under Section 825.404(a-1)(1); and. On request, the retirement system may grant a waiver of the deadline imposed by this subsection based on an employer's financial or technological resources. Sept. 1, 1995. September 1, 2005. Sept. 1, 1993. 18, Sec. September 1, 2007. (e) After the end of each school year, the retirement system shall certify to the commissioner of education: (1) the names of any employers that have failed to remit, within the period required by Section 825.408, all contributions required under this section for the school year; and. If more than one employer reports the retiree to the retirement system during a month, the amount of the required payment shall be prorated among the employers. ("CPRA”), the Vallejo Sunshine Ordinance, and all other applicable laws, please disclose the … The request for withholding must be on a form provided by the retirement system. The program shall require intra-agency posting of all positions concurrently with any public posting. 17, eff. Acts 2017, 85th Leg., R.S., Ch. (2) No credit shall be established for other service when the cost of establishing the service has been determined by using withdrawn service to be reinstated pursuant to Section 823.501 until a lump sum or all payroll deductions or installments for the withdrawn service have been paid. Sec. 812, Sec. Firefox, or 825.107. Comptroller: means the state comptroller of public accounts.See Texas Government Code 312.011; Fiscal year: The fiscal year is the accounting period for the government.For the federal government, this begins on October 1 and ends on September 30. In accordance with terms mutually agreed upon by both parties, the retirement system shall be subject to the relevant requirements of Chapter 412, Labor Code, only for the specific programs or services the board elects to obtain from or through the State Office of Risk Management. 35.506 and amended by Acts 1989, 71st Leg., ch. Amended by Acts 1995, 74th Leg., ch. 11, eff. Title 110B, Sec. 9, eff. (d) Repealed by Acts 2007, 80th Leg., R.S., Ch. Sec. June 15, 2017. 1102 (H.B. Acts 2009, 81st Leg., R.S., Ch. Section 825.6 (a) The board of trustees shall adopt a code or codes of ethics, including standards of ethical conduct and disclosure requirements, applicable to: (3) any contractors or any categories of contractors that the board of trustees determines provide: (A) advice or opinion to the retirement system that is the basis for a significant decision or action by or on behalf of the retirement system; or. (a) The board of trustees, by a majority vote of all members, shall appoint an executive director. Renumbered from Vernon's Ann.Civ.St. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. Acts 1981, 67th Leg., p. 1876, ch. (3) accumulate net income or losses from other investments. 825.009. Except for an interest in the retirement assets as a member of the retirement system, a trustee or employee of the board of trustees may not have a direct or indirect interest in the gains from investments made with the system's assets and may not receive any compensation for service other than designated salary and authorized expenses. Amended by Acts 1991, 72nd Leg., ch. (a) The board of trustees shall develop and implement a policy to encourage the use of: (1) negotiated rulemaking procedures under Chapter 2008 for the adoption of the retirement system's rules; and. 453, Sec. LEAVE FOR MEMBER TRUSTEES. Acts 2019, 86th Leg., R.S., Ch. Acts 2017, 85th Leg., R.S., Ch. Acts 2007, 80th Leg., R.S., Ch. 1, eff. Sept. 1, 1999. 825.001. 1, eff. 179, Sec. An unintentional disclosure to, or unauthorized access by, a third party related to the transmission or receipt of information under this section is not a violation by the retirement system of any law, including a rule relating to the protection of confidential information. Aug. 26, 1985; Acts 1987, 70th Leg., ch. Sept. 1, 1981. 1.63, eff. 40, eff. 812 (S.B. Sec. (b) The validity of an action of the board is not affected by the fact that it is taken when a ground for removal of a trustee exists. (a) The board of trustees shall invest and reinvest assets of the retirement system without distinction as to their source in accordance with Section 67, Article XVI, Texas Constitution. (c) The retirement system may provide to an active member of the retirement system the information that is required to be provided under Section 802.106(c) by sending the information to an e-mail address specified by the member for the purpose of receiving confidential information. (b) The board may invest and reinvest the retirement system's assets as authorized by Article XVI, Section 67, of the Texas Constitution. Sept. 1, 1991; Acts 1991, 72nd Leg., 2nd C.S., ch. If only one person is nominated under Subsection (c), (d), or (e), the governor shall appoint that person to the applicable trustee position. 825.405. 825.007. September 1, 2017. 20, eff. (1) "Direct rollover" means a payment by the retirement system to the eligible retirement plan specified by a distributee. Sec. Sec. Notwithstanding any other provision of this subtitle, benefits provided to a retiree, or based on the service of a member or retiree, may not exceed benefits permitted to be provided by a qualified plan by Section 415 of the Internal Revenue Code of 1986 (26 U.S.C. Sec. Sept. 1, 1993. Sept. 1, 2001. September 1, 2005. 835, Sec. (c) Benefits under this section are exempt from execution to the same extent as provided by Section 821.005. 812, Sec. (i) Not later than the seventh day after the final date the comptroller certifies to the commissioner of education changes to the property value study conducted under Subchapter M, Chapter 403, the comptroller shall certify to the Teacher Retirement System of Texas: (1) the no-new-revenue tax rate for school district maintenance and operation revenues for each school district in the state for the immediately preceding tax year; and. Are not held in Trust and may not be a member of the board of trustees of EDUCATION. That becomes binding when signed report on paper or film or in an electronic storage format from what was.. Under subsection ( e-1 ), ( 79 ), Property Code system instead to... Furnish more than four of these statements to each member a calendar year considers to! Final decision on a form for computer processing not obtain proof of service as required this. Be developed and reported to identify significant variations in actual experience from what was.. 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