Tex. Gov't Code Section 855.311
Endowment Fund


(a)

The retirement system shall deposit in the endowment fund gifts, awards, funds, and assets delivered to the retirement system that are not specifically required by the system’s other funds.

(b)

The endowment fund consists of:

(1)

the interest reserve account;

(2)

the general reserves account;

(3)

the distributive benefits account;

(4)

the perpetual endowment account; and

(5)

other special accounts that the board of trustees by resolution establishes.

(c)

The retirement system shall credit or charge to the interest reserve account, general reserves account, and distributive benefits account amounts allocated in accordance with Section 855.317 (Annual Allocation of Net Investment Income or Loss from Interest Fund).

(d)

The board of trustees shall transfer money from the interest reserve account to the expense fund in accordance with Section 855.312 (Expense Fund).

(e)

If the board of trustees determines that the amount credited to the distributive benefits account on December 31 of any year is sufficient to do so, the board by resolution may:

(1)

authorize the distribution and payment of all or part of the money credited to the account to persons who were annuitants on that day in the ratio of the rate of the monthly benefit of each annuitant to the total of all annuity payments made by the system for the final month of the year; or

(2)

authorize the distribution of all or part of the amount credited to the account to each member’s individual account as supplemental interest in the ratio of the amount of interest paid on the individual’s account to the interest paid to all individual accounts for the year.

(f)

The retirement system shall deposit and hold in the perpetual endowment account:

(1)

funds, gifts, and awards that the grantors designate as perpetual endowments for the retirement system; and

(2)

money forfeited to the retirement system as provided by Section 855.603 (Forfeiture of Contributions).

(g)

Distribution and payment to an annuitant under Subsection (e) must be based on the ratio that the number of months elapsing since the effective date of the person’s retirement bears to the number 12 if that person retired under this subtitle during the year for which the distribution and payment is made.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 231, ch. 18, Sec. 100, eff. Jan. 1, 1982. Renumbered from Vernon’s Ann.Civ.St. Title 110B, Sec. 65.311 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1999, 76th Leg., ch. 83, Sec. 18, eff. Dec. 31, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 154 (H.B. 360), Sec. 7, eff. May 26, 2009.
Acts 2011, 82nd Leg., R.S., Ch. 1208 (S.B. 350), Sec. 27, eff. June 17, 2011.

Source: Section 855.311 — Endowment Fund, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­855.­htm#855.­311 (accessed Jun. 5, 2024).

855.001
Composition of Board of Trustees
855.002
Appointment
855.003
Eligibility
855.004
Term of Office
855.005
Oath of Office
855.007
Meetings
855.008
Compensation
855.009
Voting
855.101
Administration
855.102
Rulemaking
855.103
Administering System Assets
855.104
Accepting Gift, Grant, or Bequest
855.105
Indebtedness
855.106
Grants and Payment of Benefits
855.107
Audit
855.108
Designation of Authority to Sign Vouchers
855.109
Depositories
855.110
Adopting Rates and Tables
855.111
Certification of Rates
855.112
Records
855.113
Office
855.114
Obtaining Information
855.115
Confidentiality of Information About Members, Retirees, Annuitants, or Beneficiaries
855.116
Electronic Information
855.201
Executive Director
855.202
Legal Representation
855.203
Medical Board
855.204
Other Physicians
855.205
Actuary
855.206
Other Employees
855.207
Compensation of Employees
855.301
Investment of Assets
855.303
Prudence Regarding Investments
855.304
Cash on Hand
855.305
Crediting System Assets
855.306
Member’s Individual Account
855.307
Benefit Accumulation Fund: Current Service
855.308
Benefit Accumulation Fund: Prior Service
855.310
Interest Fund
855.311
Endowment Fund
855.312
Expense Fund
855.313
Supplemental Disability Benefits Fund
855.314
Supplemental Death Benefits Fund
855.315
Disbursements
855.316
Interest Rates and Crediting
855.317
Annual Allocation of Net Investment Income or Loss from Interest Fund
855.319
Payment to Formerly Participating Municipality
855.401
Member Contributions
855.402
Collection of Member Contributions
855.403
Collection of Municipality Contributions
855.404
Municipality Expense Contribution
855.405
Municipality Normal Contribution
855.406
Municipality Prior Service Contribution
855.407
Limitation on Municipality Contribution Rates
855.408
Municipality Supplemental Death Benefits Contribution
855.410
Interest on Late Contributions
855.501
Increased Current Service Annuities
855.502
Supplemental Death Benefits Program
855.601
Statement of Amount in Account
855.602
Interest in Assets
855.603
Forfeiture of Contributions
855.604
Merger
855.605
Participation of Members of Fire Department
855.606
Appeal of Administrative Decision
855.607
Plan Qualification
855.608
Full Benefit Arrangement
855.3011
Securities Lending
855.4065
Additional Employer Contributions

Accessed:
Jun. 5, 2024

§ 855.311’s source at texas​.gov