Texas Vernon’s Civil Statutes
Sec. § 8.10
Termination or Modification of Drop by Fund


If the boards actuary, not sooner than January 1, 2000, certifies to the board that DROP participation is resulting in a significant actuarial loss to the fund, the board of trustees may:

(1)

reduce the interest paid on DROP accounts or take other action that would reduce the future credits to DROP accounts, but only for all DROP accounts that are established after the effective date of the action by the board of trustees; or

(2)

terminate the deferred retirement option plan for all members who have not at that time established a DROP account.
Source
Last accessed
Oct. 19, 2019