Texas Vernon's Civil Statutes

§ 6243p — POLICE RETIREMENT FUND IN MUNICIPALITIES OF 50,000 TO 400,000

CV § 6243pTitle 109. PENSIONS

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ARTICLE 1. GENERAL PROVISIONS Sec. 1.01. APPLICABILITY. This Act applies only to a municipality that:

(1)has a population of more than 50,000 but less than 400,000;

(2)operates under a city manager form of government; and

(3)has never elected to join, adopted, or been required to operate under a public retirement system created by a state statute applicable to municipal police officers. Sec. 1.02. CREATION OF POLICE PENSION FUND. A police pension fund is hereby authorized in a municipality that adopts this Act. Once a pension fund is adopted in a municipality as provided by Section 1.03 of this Act, any right or privilege accruing to any member under the fund is a vested right according to the terms of this Act and may not be denied or abridged through any change in population or other condition of applicability prescribed by Section 1.01 of this Act. The pension fund shall continue to operate and function regardless of whether the municipality continues to meet the conditions of applicability defined by Section 1.01 of this Act. Sec. 1.03. ADOPTION OF POLICE PENSION FUND. A municipality may adopt this Act by a majority vote of the municipality's governing body. Sec. 1.04. DEFINITIONS. In this Act:

(1)"Accumulated contributions" means a member's aggregate contributions made to the pension fund, including interest, if any, as determined by the board of trustees. (1-a) "Actuarial experience study" has the meaning assigned by Section 802.1014, Government Code. (1-b) "Actuarially determined contribution rate" means the contribution rate, expressed as a percentage of payroll or compensation, actuarially determined necessary to:

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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 1, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 2, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 3, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 4, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 5, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 6, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 7, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 8, eff. June 14, 2019. Acts 2019, 86th Leg., R.S., Ch. 1138 (H.B. 2763), Sec. 9, eff. June 14, 2019.