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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 8. PUBLIC RETIREMENT SYSTEMS |
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Subtitle A. PROVISIONS GENERALLY APPLICABLE TO PUBLIC RETIREMENT SYSTEMS |
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Chapter 803. PROPORTIONATE RETIREMENT PROGRAM |
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Subchapter B. PARTICIPATION AND MEMBERSHIP |
Sec. 803.103. LIMITATION OF PARTICIPATION BY RETIREMENT SYSTEMS
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(a) Participation in the proportionate retirement program by a subdivision participating in the Texas County and District Retirement System or a municipality participating in the Texas Municipal Retirement System does not include:
(1) participation with a retirement system described by Section 803.0021(1) if the subdivision or municipality has elected to so limit its participation and has not revoked the election under Subsection (b); or
(2) participation with a retirement system described by Section 803.0021(3).
(b) A subdivision or municipality that has elected to limit its participation in the proportionate retirement program may revoke the election and remove the limitation on participation. An election under this subsection may be made by vote of the governing body of the subdivision or municipality in the manner required for official actions of the governing body. The governing body shall send notice of an election under this subsection to the board of trustees of the retirement system in which the subdivision or municipality participates.
(c) The effective date of a removal of a limitation on participation in the proportionate retirement program by a subdivision or municipality electing under Subsection (b) is the first day of the month after the month in which the appropriate board of trustees receives notice of the election.