40 Tex. Admin. Code § 610.21 - Completion of a Legacy Funding Soundness Restoration Plan
(a) A public retirement system adhering to a
legacy funding soundness restoration plan may continue following that plan
until the earlier of:
(1) the target date;
or,
(2) the date of an actuarial
valuation that indicates the system's funding period is at or below 30
years.
(b) actuarial
valuations with valuation dates during a time that a system is adhering to a
legacy funding soundness restoration plan shall not be counted towards
triggering a funding soundness restoration plan under Texas Government Code
§
802.2015(c)
or §
802.2016(c)
as it stands after September 1, 2021, until after the applicable date described
in subsection (a) of this section when the system completes the legacy funding
soundness restoration plan.
Notes
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