Sec. 855.303. PRUDENCE REGARDING INVESTMENTS. A determination of whether the board of trustees has exercised prudence in an investment decision must be made by considering the investment of all of the assets of the trust over which the board has management and control, rather than by considering the prudence of a single investment. In making investments for the retirement system, the board of trustees shall exercise the judgment and care, under the circumstances, that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, considering the probable income from the securities and probable safety of their capital.
Added by Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 65.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 2003, 78th Leg., ch. 599, Sec. 18, eff. Jan. 1, 2004.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle G - Texas Municipal Retirement System
Subchapter D. Management of Assets
Section 855.301. Investment of Assets
Section 855.3011. Securities Lending
Section 855.303. Prudence Regarding Investments
Section 855.305. Crediting System Assets
Section 855.306. Member's Individual Account
Section 855.307. Benefit Accumulation Fund: Current Service
Section 855.308. Benefit Accumulation Fund: Prior Service
Section 855.310. Interest Fund
Section 855.311. Endowment Fund
Section 855.313. Supplemental Disability Benefits Fund
Section 855.314. Supplemental Death Benefits Fund
Section 855.315. Disbursements
Section 855.316. Interest Rates and Crediting
Section 855.317. Annual Allocation of Net Investment Income or Loss From Interest Fund
Section 855.319. Payment to Formerly Participating Municipality