Tex.
Gov't Code Section 845.310
Endowment Fund
(a)
The endowment fund consists of the general reserves account and other accounts as necessary.(b)
Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.(c)
The retirement system shall credit or charge to the general reserves account amounts allocated to the endowment fund in accordance with Section 845.315 (Annual Allocation of Net Investment Income or Loss).(c-1)
As of December 31, the board of trustees shall provide from the general reserves account the amount needed to pay the retirement system’s estimated operating expenses for the next fiscal year.(d)
The board of trustees may allocate any amount in the endowment fund to any other account or fund in the pension trust.(e)
Any allocation of reserves to an account of a subdivision to which Section 842.052 (Voluntary Termination of Participation), 842.053 (Involuntary Termination of Participation), or 845.317 (Payment to Formerly Participating Subdivision) applies must be specifically authorized by board resolution.(f)
Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.
Source:
Section 845.310 — Endowment Fund, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.845.htm#845.310 (accessed Jun. 5, 2024).
