Tex.
Gov't Code Section 865.014
Local Contributions
(a)
The governing body of a political subdivision shall contribute for each member performing emergency services or support services for the participating department for each month of service beginning on the date that the member enters the pension system at a rate determined in accordance with Subsection (b) and may make additional contributions as determined by the governing body of the political subdivision. The pension system may collect from the governing body of the political subdivision any contributions the governing body fails to make under this section and associated interest accrued in accordance with Subsection (c). The pension system shall deposit interest collected under this section into the fund.(b)
The state board by rule shall determine the minimum, and may determine a maximum, contribution for each member of a participating department for each month of qualified service at a rate the state board determines necessary, after consultation with the actuary, to make the pension system actuarially sound.(c)
Contributions required as provided by this section shall be paid at the times and in the manner that the state board prescribes by rule. Contributions required by this section shall be submitted by electronic funds transfer, by wire transfer, or as an automated clearinghouse withdrawal (ACH debit) unless the executive director grants an exception based on the difficulty of the use of those payment methods. Contributions that are not paid within the time required by the state board accrue interest at the most recent assumed actuarial rate of return on investments of the fund.(d)
The state board may by rule require a monthly contribution be made by the governing bodies of political subdivisions that do not participate in the pension system but whose employees or former employees are members or retirees of the pension system in an amount necessary to pay the expenses of administering benefits for those persons.(e)
The attorney general may file suit to collect unpaid accrued interest. Interest recovered shall be deposited in the fund.
Source:
Section 865.014 — Local Contributions, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.865.htm#865.014 (accessed May 18, 2024).
