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Texas Government Code - GOV'T § 845.316. Transfer of Assets on Retirement

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) When a member retires, the retirement system shall transfer from the employees saving fund to the subdivision accumulation fund, the member's accumulated contributions.

(b) When a member retires from a subdivision that has terminated participation with the retirement system under Subchapter A-1, Chapter 842,  1 the retirement system shall transfer the member's individual account to the closed subdivision annuity reserve fund.

1 V.T.C.A., Government Code §§ 842.051 et seq.
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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 845.316. Transfer of Assets on Retirement - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-845-316/

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