Tex.
Gov't Code Section 855.314
Supplemental Death Benefits Fund
(a)
The retirement system shall deposit in the supplemental death benefits fund contributions paid by municipalities to the retirement system to provide supplemental death benefits in accordance with Section 855.408 (Municipality Supplemental Death Benefits Contribution). The retirement system may not establish separate accounts in the fund for municipalities participating in the fund but shall credit contributions to a single account.(b)
The retirement system shall pay supplemental death benefits only from money in the supplemental death benefits fund, and the benefits are not an obligation of other funds of the system.(c)
The supplemental death benefits fund may become operative only after a sufficient number of municipalities elect to participate in the fund so that 4,000 members or more are covered by the fund.(d)
The board of trustees shall determine the operative date of the fund.(e)
The effective participation date of a municipality is:(1)
the operative date of the fund if the municipality elected to participate in the fund on or before the fund’s operative date; or(2)
the first day of any calendar month after the month in which the municipality notifies the board of its election to enter the fund.(f)
The board of trustees shall notify each municipality of its effective participation date.
Source:
Section 855.314 — Supplemental Death Benefits Fund, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.855.htm#855.314 (accessed Jun. 5, 2024).
