Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 34. PUBLIC FINANCE |
PART 6. TEXAS MUNICIPAL RETIREMENT SYSTEM |
CHAPTER 125. ACTIONS OF PARTICIPATING MUNICIPALITIES |
SECTION 125.3. Effect of Adopting Composite Participating Due
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A city which elects to adopt a composite participating date will be treated as if a single department for determining amortization periods and normal and prior service contribution rates; but accumulated prior service credits will be based on actual participating dates and periods of current service.
Source Note: The provisions of this §125.3 adopted to be effective April 25, 2021, 46 TexReg 2587