Sec. 2A. QUALIFICATIONS OF MUNICIPAL ACTUARY. (a) An actuary hired by the municipality for purposes of this article must be an actuary from a professional service firm who:
(1) is not already engaged by the fund or any other pension system authorized under Article 6243g-4, Revised Statutes, or Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes), to provide actuarial services to the fund or pension system, as applicable;
(2) has a minimum of 10 years of professional actuarial experience; and
(3) is a fellow of the Society of Actuaries or a member of the American Academy of Actuaries and who, in carrying out duties for the municipality, has met the applicable requirements to issue statements of actuarial opinion.
(b) Notwithstanding Subsection (a) of this section, the municipal actuary does not need to meet any greater qualifications than those required by the board for the fund actuary.
Structure Texas Statutes
Section 1A. Interpretation of Article
Section 1C. Alternative Retirement Plans
Section 1D. Requirements for Certain Cash Balance Retirement Plans
Section 2. Fund and Board of Trustees
Section 2A. Qualifications of Municipal Actuary
Section 2B. Report on Investments by Independent Investment Consultant
Section 3. Other Powers of the Board
Section 3A. Certain Alterations by Local Agreement
Section 4. Service Pension Benefits
Section 5. Deferred Retirement Option Plan
Section 5A. Post-Retirement Option Plan
Section 6. Disability Pension Benefits
Section 8. Deferred Pension at Age 50; Refund of Contributions
Section 9. Proof of Continued Disability
Section 10. Nonstatutory Benefit Increases
Section 10A. Annual Supplemental Benefit for Certain Retired Members and Eligible Survivors
Section 10B. Additional Lump-Sum Retirement or Death Benefit
Section 11. General Provisions for Calculation and Payment of Benefits
Section 12. Appeals of Benefit Decisions
Section 13. Membership and Member Contributions
Section 13A. Municipal Contributions
Section 13B. Risk Sharing Valuation Studies
Section 13C. Initial Risk Sharing Valuation Studies; Corridor Midpoint
Section 13D. Actuarial Experience Studies
Section 13H. State Pension Review Board; Report
Section 14. Internal Revenue Code Limitations
Section 15. Exemption of Benefits From Judicial Process
Section 16. Service Credit for Members Previously Members of Similar Funds
Section 17. Confidentiality of Information About Members or Beneficiaries