Texas Labor Code

§ 407A.457 — TRUST FUND; SCHEDULE

LA § 407A.457Title 5. WORKERS' COMPENSATION · Part A. TEXAS WORKERS' COMPENSATION ACT · Ch. 407A. GROUP SELF-INSURANCE COVERAGE · Art. J. TEXAS SELF-INSURANCE GROUP GUARANTY FUND

Statute text

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(a)Each group shall contribute an amount, based on the total amount of income benefit payments made in this state for the preceding reported calendar year, to create, over a period of 10 years beginning January 1, 2006, a trust fund of at least $1 million for:

(1)the emergency payment of the compensation liabilities of an insolvent group; and

(2)the administrative expenses of the guaranty fund.

(b)The board may adopt provisions in the plan of operation that provide for the indexing of the amount of the trust fund to a risk analysis.

(c)At least annually, the board shall adopt a year-by-year schedule of assessments to meet the funding goal of the trust fund.

(d)The board may:

…

Legislative history

Added by Acts 2005, 79th Leg., Ch. 1055 (H.B. 1353), Sec. 1, eff. September 1, 2005.