40 TAC §605.3
The Board hereby adopts new §605.3 regarding the adoption
of standardized forms by reference and the requirement that public retirement
systems use the forms to submit reports to the Board. The new rule is adopted
without changes to the text as published in the February 14, 2003, issue of
the
Texas Register
(28 TexReg 1371).
The rule permits the Board to receive and analyze information that it receives
from public retirement systems every year in an orderly and standardized manner,
allowing for more efficient review and meaningful objective analysis. New §605.3
is adopted to comply with Texas Government Code, §802.201(c)(2) which
requires the Board to require public retirement systems to complete and submit
the standard forms.
No public comments were received regarding the proposed new rule.
The new section is adopted under the authority of Texas Government
Code §801.201(a) and (c) which provide as follows: §801.201(a) requires
the board to adopt rules for the conduct of its business; and §801.201(c)
(1) requires the board, by rule, to adopt a brief standard form that will
assist the board in efficiently determining the actuarial soundness and current
financial condition of a public retirement system. Section 801.201(c)(2) requires
the board, by rule, to require a retirement system to include the standard
forms with information required for the Board to conduct a review or study
described in Texas Government Code §801.202(1) or (2).
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of
the Secretary of State on June 24, 2003.
TRD-200303889
Lynda Barker
Executive Assistant
State Pension Review Board
Effective date: July 14, 2003
Proposal publication date: February 14, 2003
For further information, please call: (512) 463-1736