Enrolled Bill Summary

            House Bill 1739 amends the Texas Statewide Emergency Services Retirement Act for volunteers and minimally paid workers to ensure that the retirement system's fund qualifies as a 401 retirement plan under the Internal Revenue Code and clarifies that the normal retirement age is 55 or when a member completes 15 years of service. The act authorizes the fund's trustees to adopt rules relating to providing an increase in disability benefits and to the timing of contributions. Departments sending delinquent contributions will be charged interest. The act provides for penalties, including the interruption of benefit payments, for a member who fails to provide certain information upon request.

            House Bill 1739 requires a local board of trustees to file an annual report with the pension commissioner and provides administrative penalties for failing to do so.

            House Bill 1739 also amends the Government Code to include the Texas Statewide Emergency Services Retirement Fund in a group of agencies permitted to reinvest certain investment proceeds rather than deposit them in the state treasury.