Tex.
Gov't Code Section 845.306
Employees Saving Fund
(a)
The retirement system shall deposit in a member’s individual account in the employees saving fund:(1)
the amount of contributions to the retirement system deducted from the member’s compensation;(2)
interest allowed in accordance with this subtitle;(3)
the contribution made by a member in an amount equal to the amount withdrawn to reinstate service credit under Section 843.003 (Authorization to Reestablish Service Credit Previously Forfeited);(4)
the amount deposited by a member in accordance with Section 843.0031 (Option to Pay Lump-sum Amount); and(5)
the amount contributed by a member in accordance with Section 843.601(b) to establish current service credit for military service under the Uniformed Services Employment and Reemployment Rights Act of 1994 (38 U.S.C. Section 4301 et seq.).(b)
The retirement system shall establish and maintain a separate member individual account for each subdivision with which the member has credited service.(c)
On December 31 of each year, the retirement system shall credit to each member’s individual account interest as allowed by this subtitle on the amount of accumulated contributions credited to the member’s account on January 1 of that year.
Source:
Section 845.306 — Employees Saving Fund, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.845.htm#845.306 (accessed Jun. 5, 2024).
