Texas Government Code 855.305 – Crediting System Assets
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(a) The retirement system shall immediately deposit all money received by the system with a depository designated under § 855.109.
(b) When securities of the retirement system are received, the system shall deposit the securities in trust with a depository designated under § 855.109. The depository shall provide adequate safe deposit facilities for the preservation of the securities.
Terms Used In Texas Government Code 855.305
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(c) All assets of the retirement system shall be credited, according to the purpose for which they are held, to one of the following funds:
(1) benefit accumulation fund;
(2) interest fund;
(3) endowment fund;
(4) expense fund;
(5) supplemental disability benefits fund; or
(6) supplemental death benefits fund.