Tex.
Gov't Code Section 802.002
Exemptions
(a)
Except as provided by Subsection (b), the Employees Retirement System of Texas, the Teacher Retirement System of Texas, the Texas County and District Retirement System, the Texas Municipal Retirement System, and the Judicial Retirement System of Texas Plan Two are exempt from Sections 802.101 (Actuarial Valuation)(a), 802.101 (Actuarial Valuation)(b), 802.101 (Actuarial Valuation)(d), 802.102 (Audit), 802.103 (Annual Financial Report)(a), 802.103 (Annual Financial Report)(b), 802.2015 (Funding Soundness Restoration Plan), 802.2016 (Funding Soundness Restoration Plan for Certain Public Retirement Systems), 802.202 (Investment of Surplus), 802.203 (Fiduciary Responsibility), 802.204 (Investment Manager), 802.205 (Investment Custody Account), 802.206 (Evaluation of Investment Services), and 802.207 (Custody and Use of Funds). The Judicial Retirement System of Texas Plan One is exempt from all of Subchapters B and C except Sections 802.104 (Report of Members and Retirees) and 802.105 (Registration). The optional retirement program governed by Chapter 830 (Optional Retirement Program) is exempt from all of Subchapters B and C except Section 802.106 (Information to Member or Annuitant).(b)
If a public retirement system or program that is exempt under Subsection (a) is required by law to make an actuarial valuation of the assets of the system or program and publish actuarial information about the system or program, the actuary making the valuation and the governing body publishing the information must include the information required by Section 802.101 (Actuarial Valuation)(b).(c)
Notwithstanding any other law, a defined contribution plan is exempt from Sections 802.101 (Actuarial Valuation), 802.1012 (Audits of Actuarial Valuations, Studies, and Reports), 802.1014 (Actuarial Experience Study), 802.103 (Annual Financial Report), 802.104 (Report of Members and Retirees), and 802.202 (Investment of Surplus)(d). This subsection may not be construed to exempt any plan from Section 802.105 (Registration) or 802.106 (Information to Member or Annuitant)(h).(d)
Notwithstanding any other law, a retirement system that is organized under the Texas Local Fire Fighters Retirement Act (Article 6243e, Vernon’s Texas Civil Statutes) for a fire department consisting exclusively of volunteers as defined by that Act is exempt from Sections 802.101 (Actuarial Valuation), 802.1012 (Audits of Actuarial Valuations, Studies, and Reports), 802.1014 (Actuarial Experience Study), 802.102 (Audit), 802.103 (Annual Financial Report), 802.104 (Report of Members and Retirees), and 802.202 (Investment of Surplus)(d). This subsection may not be construed to exempt any plan from Section 802.105 (Registration) or 802.106 (Information to Member or Annuitant)(h).
Source:
Section 802.002 — Exemptions, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.802.htm#802.002 (accessed Jun. 5, 2024).
