Tex. Local Government Code § 103.004

This is the official text of Tex. Local Government Code § 103.004, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.

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§ 103.004. VALUATION OF CERTAIN BENEFIT PROGRAMS.

Official statutory text

(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.

Status: in_force · Read it on the official government site

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