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Senate Bill 1413 |
Senate Author: Deuell |
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Effective: 6-14-13 |
House Sponsor: King, Susan |
Senate Bill 1413 amends the Texas Local Fire Fighters Retirement Act to include the president of the board of emergency services commissioners for an emergency services district subject to the act as a member of the board of trustees of the district's firefighters' retirement system. The bill removes the local residency requirement for the two persons elected to the board by the board's membership and authorizes a person to be elected by acclamation of the participating members of the retirement system present at an election meeting without the necessity of a secret ballot if only one person is nominated for a board position to be elected by participating members of the system. The bill repeals a requirement that copies of the minutes of each board meeting be forwarded to each fire station and to each division of the fire department.
Senate Bill 1413 sets the cap on the annual amount of payments for administrative costs to be paid out of a retirement system's trust fund as a percentage of the market value of the fund's assets rather than of their book value. The bill also removes provisions relating to the temporary treatment of an employer pick up of employee contributions to the retirement system as employee wages, rather than as employer contributions, for income tax withholding purposes and to the effective date of a pick up of employee contributions, each of which provisions established a time frame conditioned on the filing of certain notices with the secretary of state by the pension commissioner regarding an applicable Internal Revenue Service determination or federal court ruling.