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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 F. TEXAS COUNTY AND DISTRICT RETIREMENT SYSTEM |
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Chapter 845. ADMINISTRATION |
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Subchapter D. MANAGEMENT OF ASSETS |
Sec. 845.315. ANNUAL ALLOCATION OF NET INVESTMENT INCOME OR LOSS
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(a) As of December 31 of each year, the board of trustees shall make the following allocations that in the aggregate equal the net investment income or loss for the year:
(1) to the current service annuity reserve fund, interest as allowed under this subtitle on the mean amount in the current service annuity reserve fund during that year;
(2) to the optional group term life fund, interest as allowed under this subtitle on the mean amount in the optional group term life fund during that year;
(3) to the general reserves account of the endowment fund, a positive or negative amount determined by the board;
(4) to the employees saving fund, current interest as allowed under this subtitle on the member account balances on January 1 of that year of all persons who are members on December 31 of that year;
(5) to the accounts of subdivisions, other than subdivisions otherwise described by this section, positive or negative amounts as determined under rules adopted by the board prescribing the allocation methodology for the accounts; and
(6) to the accounts of subdivisions to which Section 842.052 or 842.053 applies, positive or negative amounts as determined by the board.
(b) The account of a subdivision that has ceased participation according to Section 845.317(a) will not receive an allocation under this section.