80R7980 SGA-D
 
  By: Truitt H.B. No. 2664
 
 
 
   
 
 
A BILL TO BE ENTITLED
AN ACT
relating to audits of public retirement system actuarial
valuations, studies, and reports.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Subchapter B, Chapter 802, Government Code, is
amended by adding Section 802.1012 to read as follows:
       Sec. 802.1012.  AUDITS OF ACTUARIAL VALUATIONS, STUDIES, AND
REPORTS. (a) The actuarial valuation, study, and report of each
public retirement system required by Section 802.101 or other law
under this title or under Title 109, Revised Statutes, must be
audited once every five years by an independent actuary who has the
credentials required for an actuary under Section 802.101(d).
       (b)  The board shall adopt any rules necessary to implement
this section.
       (c)  An exemption under Section 802.002 does not apply to
this section.
       SECTION 2.  This Act takes effect September 1, 2007.