Fund 0942 – TexaSaver Hold Transmit Account - 401K Deferred Compensation

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Legal Citations:

Government Code sec. 609.502

Origin Date: 1985 by H.B. 1226, 69th Leg.

Issue Date: 1985-09-01

Revised Date: 1993-09-01

Purpose

To provide a temporary depository for funds pending transmittal, by electronic means, to the administrator of the state deferred compensation 401k program. Interest earned between payday and the warrant paid date is transmitted with the deferred payments, interest earnings before payday are transmitted to the General Revenue Fund (0001).

Classification	Group 09: Suspense Funds [?]
Depository Interest	Retained in appropriated fund. A portion is transferred to the General Revenue Fund (0001).
Disposition of Balance	Transferred or returned to source fund.
Appropriation Technique	Not appropriated for state expenditure.

Administering Agencies

327 – Employees Retirement System of Texas

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

USAS Values

USAS Title	TEXASAVER HOLD-TRANSMIT 401K
Consolidated Fund
State Fund Group	09 - SUSPENSE FUNDS
USAS Status	I

Those funds created to receive deposits that cannot be readily identified as belonging to a specific fund.

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