Tex. Local Gov't Code Section 103.004
Valuation of Certain Benefit Programs

(a)

A municipality that provides a continuing organized program of service retirement benefits, disability retirement benefits, or death benefits for any of its officers or employees must include in the annual financial statement a valuation of the financial assets and liabilities of the program as shown in the most recent actuarial valuation of the program.

(b)

This section does not apply to:

(1)

a program for which the only funding agency is a life insurance company;

(2)

a program providing only workers’ compensation benefits; or

(3)

a program administered by the municipality as a member of the Texas Municipal Retirement System.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 103.004 — Valuation of Certain Benefit Programs, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­103.­htm#103.­004 (accessed May 25, 2024).

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Accessed:
May 25, 2024

§ 103.004’s source at texas​.gov