Texas Government Code 842.051 – General Provisions
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(a) Notwithstanding any provision of this subchapter to the contrary, to the extent required by applicable provisions of the Internal Revenue Code of 1986, on termination of a subdivision’s participation in the retirement system or on complete discontinuance of contributions, each member becomes fully vested in the member’s accrued benefit with respect to the subdivision to the extent funded as of the date of termination or contribution discontinuance.
(b) The retirement system is not liable to any person for any claim or loss of benefits resulting from the termination of a subdivision’s participation in the system or the failure of a subdivision to make required contributions or payments under a termination agreement.
Terms Used In Texas Government Code 842.051
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Rule: includes regulation. See Texas Government Code 311.005
(c) The board of trustees by rule may establish standards, definitions, and procedures it considers necessary to administer this subchapter and shall take reasonable actions and exercise its discretion in a fair and equitable manner on a case-by-case basis to preserve accrued benefits.