Purpose
To accumulate contributions of employees, annuitants, and the State under the provisions of Texas Employees Uniform Group Insurance Benefits Act. The fund is available for all payments for any insurance coverage provided for under the Act and to pay expenses for administering the act within the limitations that may be specified annually by the Legislature. Money in the account may be invested and reinvested subject only to the restrictions contained in Section 7, ch. 352, Acts of the 50th Legislature 1944, as amended. (art. 6228a, V.T.C.S.). The interest on and the proceeds from the sale of these obligations become a part of the fund.
| Classification | Group 08: Trust Funds [?] |
|---|---|
| Depository Interest | Retained in appropriated fund. |
| Disposition of Balance | Accumulative. Trustee can adjust contributions to maintain an unrestricted balance of at least 5 percent to provide for adverse fluctuations in the program. (H.B. 1792, 68th Leg., R.S.) |
| Appropriation Technique | Not appropriated for state expenditure. |
Administering Agencies
Financial Activity
To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
Legal cite codified by Acts 2001, 77th Leg., Ch. 1419, § 3, effective June 1, 2003.
USAS Values
| USAS Title | EMPLOYEE INS BENEFIT TRUST ACCT |
|---|---|
| Consolidated Fund | |
| State Fund Group | 08 - TRUST FUNDS |
| USAS Status | A |
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities