Texas Government Code 609.118 – Trust for 401(K) Plan
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 609.118
- Trustee: A person or institution holding and administering property in trust.
A political subdivision or group of political subdivisions that creates a 401(k) plan may:
(1) establish a trust to hold deferred amounts and investment income for the benefit of participating employees; and
(2) act as trustee of the trust.