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Texas Local Government Code - LOC GOV'T § 107.002. Definition of “Public Pension Fund”

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

In this chapter, “public pension fund”:

(1) means a continuing, organized program or plan of service retirement, disability retirement, or death benefits for officers or employees of a municipality;

(2) includes a plan qualified under Section 401(a), Internal Revenue Code of 1986, as amended; and

(3) does not include:

(A) a program that provides only workers' compensation benefits;

(B) a program administered by the federal government;

(C) a plan described by Section 401(d), Internal Revenue Code of 1986, as amended;

(D) an individual retirement account consisting of an annuity contract described by Section 403(b), Internal Revenue Code of 1986, as amended;

(E) an individual retirement account as defined by Section 408(a), Internal Revenue Code of 1986, as amended;

(F) an individual retirement annuity as defined by Section 408(b), Internal Revenue Code of 1986, as amended;

(G) an eligible deferred compensation plan as defined by Section 457(b), Internal Revenue Code of 1986, as amended; or

(H) a program for which benefits are administered by a life insurance company or for which the only funding agency is a life insurance company.

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Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 107.002. Definition of “Public Pension Fund” - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-107-002/

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