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Tex. Local Government Code § 103.004

VALUATION OF CERTAIN BENEFIT PROGRAMS

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 103.004, VALUATION OF CERTAIN BENEFIT PROGRAMS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/688985
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(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.