Sec. 845.308. CLOSED SUBDIVISION ANNUITY RESERVE FUND. (a) The retirement system shall deposit and hold in the closed subdivision annuity reserve fund all reserves for annuities payable to annuitants who were members of subdivisions that terminated participation with the retirement system under Subchapter A-1, Chapter 842.
(b) The retirement system shall pay from the closed subdivision annuity reserve fund annuities described by Subsection (a) and all benefits in lieu of those annuities as provided by this subtitle.
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.308 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 303 (S.B. 463), Sec. 7, eff. June 1, 2015.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle F - Texas County and District Retirement System
Subchapter D. Management of Assets
Section 845.301. Investment of Assets
Section 845.302. Custody and Investment of Assets Pending Transactions
Section 845.303. Securities Lending
Section 845.305. Crediting System Assets
Section 845.306. Employees Saving Fund
Section 845.307. Subdivision Accumulation Fund
Section 845.308. Closed Subdivision Annuity Reserve Fund
Section 845.310. Endowment Fund
Section 845.312. Optional Group Term Life Fund
Section 845.313. Disbursements
Section 845.314. Interest Rates
Section 845.315. Annual Allocation of Net Investment Income or Loss
Section 845.316. Transfer of Assets on Retirement
Section 845.317. Payment to Formerly Participating Subdivision