Tex.
Gov't Code Section 841.001
Definitions
(1)
“Actuarial equivalent” means a benefit that, at the time it is begun, has the same present value as the benefit it replaces, based on seven percent annual interest and either:(A)
the mortality table published by the Conference of Actuaries in Public Practice and known as the UP-1984 table with an age setback of five years for retired or disabled annuitants and an age setback of 10 years for beneficiaries, with a 30-percent reserve refund assumption for the standard benefit; or(B)
a mortality basis adopted under Section 845.110 (Adopting Rates and Tables)(c).(1-a)
“Accrued benefit” means the sum of a member’s accumulated contributions and service credit calculated as of a specified date.(2)
“Accumulated contributions” means the contributions, other member deposits, and interest credited to a member’s individual account in the employees saving fund.(3)
“Annuity” means an amount of money payable in equal monthly installments at the end of each month for a period determined under this subtitle.(4)
“Beneficiary” means an individual or entity designated by a member or annuitant or by statute to receive a benefit payable under this subtitle because of the death of a member or an annuitant. The term does not include an “alternate payee” as defined by Section 804.001 (Definitions).(5)
“Board of trustees” means the persons appointed under this subtitle to administer the retirement system.(6)
“Compensation” means the sum of payments that are made to an employee for performance of personal services as certified by a participating subdivision, including nonmonetary compensation, the value of which is determined by the governing body of the subdivision, on which contributions by an employee to the retirement system are based, which may not exceed either the limit provided by Section 401(a)(17) of the Internal Revenue Code of 1986, as indexed in the manner provided by that section, or a lesser amount established by rule of the board of trustees. The term includes amounts by which payment for earnings is reduced because of employer pick-up of employee contributions to the retirement system under Section 845.403 (Collection of Member Contributions), deferral of compensation under benefit plans or tax-sheltered annuity programs adopted by the subdivision under Section 401(k), 403(b), or 457 of the Internal Revenue Code of 1986, the costs of benefits furnished under qualified cafeteria plans adopted by the subdivision under Section 125 of the Internal Revenue Code of 1986, and deductions for Federal Insurance Contribution Act taxes, federal income taxes, or other obligations of the employee. The term does not include workers’ compensation benefits received by a member under Section 504.011 (Method of Providing Coverage), Labor Code.(7)
“Credited service” means the number of months of prior, current, and optional service ascribed to a member in the retirement system.(7-a)
“Director” means the person appointed as director under Section 845.202 (Director).(8)
“Employee” means a person, other than a person determined by a subdivision to be a temporary employee, who is certified by a subdivision as being employed in, or elected or appointed to, a position or office in the subdivision for which the person is compensated by the subdivision. The term includes a person described by Section 842.107 (Optional Membership) only as provided by that section.(9)
“Governing body” means the commissioners court of a county or, in any other subdivision, the body that is authorized to raise and expend revenue.(10)
“Initial deposit rate” means the percentage of the annual compensation of an employee of a participating subdivision that is required by the subdivision on the effective date of subdivision participation in the retirement system as the rate for employee contributions to the retirement system.(11)
“Local pension system” means a public retirement benefit program of less than statewide scope.(12)
“Retirement” means the withdrawal from service with a retirement benefit granted under this subtitle.(13)
“Retirement annuity” means the service, disability, or survivor benefit paid under this subtitle in the form of an annuity.(14)
“Retirement system” means the Texas County and District Retirement System.(15)
“Service” means the time a person is an employee.(16)
“Service credit” means the monetary credits allowed a member for service for a participating subdivision.(17)
“Subdivision” means a political subdivision of the state that is not eligible to participate in any other statewide retirement system or that is not currently participating in a retirement system established by the legislature. The term includes the Texas Association of Counties, the retirement system, and a city-county hospital jointly managed under Subchapter B, Chapter 265 (Joint Municipal and County Hospitals), Health and Safety Code. The term does not include a branch, division, department, employee classification group, or other separately identified component of a political subdivision.(18)
“Optional group term life program” means the voluntary, employer-funded optional death benefit program established under Subchapter F, Chapter 844 (Benefits).(19)
“Vested member” means a member who may withdraw from employment with all participating subdivisions, leave the member’s accumulated contributions on deposit with the retirement system, and, on meeting the age and length-of-service requirements for service retirement, file an application for retirement and begin to receive a service retirement annuity.
Source:
Section 841.001 — Definitions, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.841.htm#841.001 (accessed Jun. 5, 2024).
