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Texas Statutes (Last Updated: January 4, 2014) |
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EDUCATION CODE |
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Title 3. HIGHER EDUCATION |
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Subtitle A. HIGHER EDUCATION IN GENERAL |
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Chapter 51. PROVISIONS GENERALLY APPLICABLE TO HIGHER EDUCATION |
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Subchapter Z. MISCELLANEOUS PROVISIONS |
Sec. 51.926. PAYROLL DEDUCTIONS FOR QUALIFIED RETIREMENT PLANS
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(a) On written authorization from a football coach who is entitled to participate in a qualified football coaches plan, an institution of higher education may:
(1) enter into a salary reduction agreement under which the salary of the coach is reduced by the amount of contribution to the plan; and
(2) remit such contribution to the plan for credit to the coach's plan account.
(b) A person who participates in a qualified football coaches plan may also participate in another retirement plan or be a member of a retirement system established by law for employees of institutions of higher education.
(c) In this section:
(1) "Institution of higher education" has the meaning assigned by Section 61.003 of this code.
(2) "Qualified football coaches plan" means a retirement plan under Title 29 U.S.C. Section 1002(37)(F).