Sec. 609.502. CREATION OF PLAN; PARTICIPATION. (a) The board of trustees of the Employees Retirement System of Texas is the trustee and the plan administrator of a 401(k) plan and a 457 plan, collectively known as the TexaSaver program, established under this subchapter.
(b) The board of trustees shall administer all aspects of each plan.
(c) The board of trustees may designate a person to assist in the execution of the board's authority and responsibilities as plan administrator.
(d) A state agency may participate in either or both plans.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 1048, Sec. 39, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 1111, Sec. 3, eff. Sept. 1, 2003.
Structure Texas Statutes
Title 6 - Public Officers and Employees
Subtitle A - Provisions Generally Applicable to Public Officers and Employees
Chapter 609 - Deferred Compensation Plans
Subchapter C. Deferred Compensation Plans for Employees of State Agencies
Section 609.502. Creation of Plan; Participation
Section 609.5021. Roth Contribution Programs
Section 609.5025. Automatic Participation; Default Investment Product
Section 609.5026. State Matching Contributions
Section 609.503. Changing Amount Deferred
Section 609.504. Investment and Transfer of Deferred Amounts and Income
Section 609.505. Qualified Vendor
Section 609.506. Insurance Company as Qualified Vendor
Section 609.507. Financial Institution as Qualified Vendor
Section 609.509. Contracts for Goods and Services
Section 609.510. Exemption for Certain Contracts
Section 609.512. Deferred Compensation Plan Trust Funds
Section 609.513. Discretionary Transfer
Section 609.514. Alternative to Fund Deposit
Section 609.515. Transfer to 457 Plan of Institution of Higher Education