Issue Date: | 1997-09-01 |
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Revised Date: |
Legal Cites
- Government Code sec. 815.5072
Origin:
September 1, 1997 by S.B. 1102, 75th Leg., R.S.
Purpose
This account is created in General Revenue as a separate, nonqualified unfunded excess benefit arrangement outside the trust fund of the Employees Retirement System. The arrangement will be administered under Section 415(m) of the Internal Revenue Code of 1986 (26 U.S.C.) to pay annuitant benefits that exceed the benefit limit imposed by Section 415(b)(1)(A) of the Internal Revenue Code of 1986 (26 U.S.C.). In lieu of deposit to the state contribution account, an 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.
Classification | Group 01: General State Operating and Disbursing Funds [?] |
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Depository Interest | Credited to General Revenue Fund (0001) |
Disposition of Balance | Accumulative |
Appropriation Technique | General Appropriations Act |
Administering Agencies
Financial Activity
To view this GR account's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
Creation of the account was finally authorized by H.B. 2948, 75th Leg., R.S.
USAS Values
USAS Title | GR ACCT-EXCESS BENEFIT ARRANGEMENT,ERS |
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Consolidated Fund | 0001 |
State Fund Group | 01 - GENERAL STATE OPERATING & DISBURSING FDS |
USAS Status | A |
Used to make general expenditures for the daily operations of state government.