Created in General Revenue as a separate, nonqualified, unfunded excess benefit arrangement outside the trust fund of the retirement system. Will be administered under Section 415(m) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(m)) to pay annuitant benefits that exceed benefit limit imposed by Section 415(b)(1)(A) of the Internal Revenue Code of 1986 (26 U.S.C. Section 415(b)(1)(A). In lieu of deposit to the state contribution account, amount of state contributions determined by the retirement system necessary to pay benefits will be credited to this account monthly at least 15 days before the date of a monthly disbursement.

Creation of the account was finally authorized by H.B. 2948, 75th Leg., R.S.