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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The retirement system shall deposit in the supplemental death benefits fund contributions paid by municipalities to the retirement system to provide supplemental death benefits in accordance with Section 855.408. The retirement system may not establish separate accounts in the fund for municipalities participating in the fund but shall credit contributions to a single account.
(b) The retirement system shall pay supplemental death benefits only from money in the supplemental death benefits fund, and the benefits are not an obligation of other funds of the system.
(c) The supplemental death benefits fund may become operative only after a sufficient number of municipalities elect to participate in the fund so that 4,000 members or more are covered by the fund.
(d) The board of trustees shall determine the operative date of the fund.
(e) The effective participation date of a municipality is:
(1) the operative date of the fund if the municipality elected to participate in the fund on or before the fund's operative date; or
(2) the first day of any calendar month after the month in which the municipality notifies the board of its election to enter the fund.
(f) The board of trustees shall notify each municipality of its effective participation date.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 855.314. Supplemental Death Benefits Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-855-314/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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