78th Texas Legislature, Regular Session, House Bill 2359, Chapter 1111 Page: 1 of 30
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CHAPTER 1111 H.B. No. 2359
1 AN ACT
2 relating to the programs and systems administered by the Employees
3 Retirement System of Texas.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1i. Section 609.008, Government Code, is amended to
6 read as follows:
7 Sec. 609.008. CREDITING TRUST FUND INTEREST. Interest
8 earned on an employee's deferred amounts and investment income
9 deposited in any of the deferred compensation trust funds [f-n],
10 as defined by Section 609.101, or [- Ahc TcxaSavc t R uct n-d or
11 th ]cowzd ....mpenction. a.. fun] to which Section
12 609.512 applies is credited to the employee.
13 SECTION 2. Sections 609.011 and 609.012, Government Code,
14 are amended to read as follows:
15 Sec. 609.011. NOTIFICATION BY [ ] PLAN ADMINISTRATOR.
16 (a) The plan administrator of a [4] plan established under this
17 chapter may notify an employee participating in the plan that the
18 administrator believes that:
19 (1) a qualified vendor is having significant financial
20 difficulties; or
21 (2) the amount of the employee's deferred amounts and
22 investment income invested with a qualified vendor exceeds an
23 insured or guaranteed level.
24 (b) A plan administrator is not liable to a participating
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Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 2359, Chapter 1111, legislative document, June 2003; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158432/m1/1/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.