Texas Government Code 840A.103 – Annual Interest Adjustment
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Terms Used In Texas Government Code 840A.103
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Each fiscal year, the retirement system shall deposit for a member subject to this chapter an amount equal to four percent of the member’s accumulated account balance deposited into the member’s individual account in the retirement system.