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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The state employees cafeteria plan trust fund is in the state treasury.
(b) The board of trustees shall administer the fund.
(c) The following shall be credited to the fund:
(1) salary reduction payments for benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) appropriations by the state for the administration of a cafeteria plan.
(d) The trust fund is available without fiscal year limitation:
(1) for all payments for any benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) for payment of expenses of administering a cafeteria plan.
(e) The board of trustees may establish accounts for money in the fund as the board considers necessary, including accounts for the administration of a cafeteria plan. The board of trustees may transfer assets from one account to another:
(1) to pay benefits if:
(A) the transfer is necessary for financial management purposes; and
(B) adequate arrangements are made to reimburse the account from which the transfer was made; and
(2) to pay administrative expenses.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 1551.402. State Employees Cafeteria Plan Trust Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1551-402/
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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