Sec. 1551.402. STATE EMPLOYEES CAFETERIA PLAN TRUST FUND. (a) The state employees cafeteria plan trust fund is in the state treasury.
(b) The board of trustees shall administer the fund.
(c) The following shall be credited to the fund:
(1) salary reduction payments for benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) appropriations by the state for the administration of a cafeteria plan.
(d) The trust fund is available without fiscal year limitation:
(1) for all payments for any benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) for payment of expenses of administering a cafeteria plan.
(e) The board of trustees may establish accounts for money in the fund as the board considers necessary, including accounts for the administration of a cafeteria plan. The board of trustees may transfer assets from one account to another:
(1) to pay benefits if:
(A) the transfer is necessary for financial management purposes; and
(B) adequate arrangements are made to reimburse the account from which the transfer was made; and
(2) to pay administrative expenses.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 3, eff. June 1, 2003.
Section: Previous 1551.357 1551.358 1551.359 1551.360 1551.361 1551.362 1551.401 1551.402 1551.403 1551.404 1551.405 1551.406 1551.407 1551.451 1551.452 NextLast modified: September 28, 2016