Texas Local Government Code - Section 103.004. Valuation Of Certain Benefit Programs
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§ 103.004. VALUATION OF CERTAIN BENEFIT PROGRAMS. (a) A
municipality that provides a continuing organized program of
service retirement benefits, disability retirement benefits, or
death benefits for any of its officers or employees must include in
the annual financial statement a valuation of the financial assets
and liabilities of the program as shown in the most recent actuarial
valuation of the program.
(b) This section does not apply to:
(1) a program for which the only funding agency is a
life insurance company;
(2) a program providing only workers' compensation
benefits; or
(3) a program administered by the municipality as a
member of the Texas Municipal Retirement System.
Acts 1987, 70th Leg., ch. 149, § 1, eff. Sept. 1, 1987.
Section: 102.008 102.009 102.010 102.011 103.001 103.002 103.003 103.004 104.001 104.002 104.003 104.004 104.005 105.001 105.002
Last modified: August 10, 2007
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