Sec. 865.006. GENERAL DUTIES OF STATE BOARD. (a) The state board shall employ a certified public accountant, an actuary, and an investment consultant for the fund and may acquire computer, custodial, or investment management services for the fund. The costs of accounting, actuarial, investment consulting, computer, custodial, or investment management services and other administrative expenses may be paid from income earned by investment of the fund. No portion of the corpus or income of the fund may be used for purposes other than the benefit of members, retirees, and their beneficiaries.
(b) The state board shall adopt rules necessary for the administration of the fund. The state board shall adopt rules to provide a proration of the requirements for qualified service for a member who performs service for only a portion of a calendar year and may provide by rule for the manner in which member attendance or training hours are to be computed.
(c) The state board shall develop and implement policies that:
(1) clearly separate the policy-making responsibilities of the state board and the management responsibilities of the executive director and the staff of the pension system; and
(2) provide the public with a reasonable opportunity to appear before the state board and to speak on any issue under the jurisdiction of the state board.
(d) The state board is responsible for seeking and recovering any benefits fraudulently acquired from the pension system. If the state board suspects fraud has occurred, the state board shall notify the appropriate local board and the benefit recipient and hold a hearing to determine whether fraud has occurred. If, after the hearing, the state board determines that benefits from the pension system have been or are being fraudulently acquired, the state board shall seek appropriate relief.
Added by Acts 2005, 79th Leg., Ch. 803 (S.B. 522), Sec. 1, eff. September 1, 2005.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1316 (S.B. 220), Sec. 1.13, eff. June 14, 2013.
Acts 2019, 86th Leg., R.S., Ch. 1165 (H.B. 3247), Sec. 26, eff. September 1, 2019.
Structure Texas Statutes
Title 8 - Public Retirement Systems
Subtitle H - Texas Emergency Services Retirement System
Section 865.001. Composition of State Board
Section 865.0011. Sunset Review
Section 865.002. Ineligibility of Certain Employees for State Board
Section 865.003. Compensation; Expenses
Section 865.0035. State Board Member Training
Section 865.005. Grounds for Removal of Trustees
Section 865.006. General Duties of State Board
Section 865.0061. Written Policy on Managing and Administering Contracts
Section 865.007. Administering System Assets
Section 865.008. Investment of Assets
Section 865.0095. Executive Director
Section 865.010. Executive Director's Duties
Section 865.011. Records and Reports
Section 865.0115. Participating Department Head
Section 865.0116. Participating Department Head's Duties
Section 865.0121. Delegation of Local Board Duties
Section 865.013. Monitoring of Contribution Submission
Section 865.014. Local Contributions
Section 865.015. State Contributions
Section 865.016. Administrative Penalty
Section 865.017. Interruption of Payments
Section 865.018. Certification of Fund
Section 865.019. Confidentiality of Information About Members, Retirees, and Beneficiaries