Goto previous pageGoto next page
pg. 1678

Texas Laws | Government Code
GOVERNMENT CODE
TITLE 6. PUBLIC OFFICERS AND EMPLOYEES

Sec. 609.109. PARTICIPATION OF INDEPENDENT CONTRACTORS. (59613)(Text)

(a) The plan administrator shall determine whether a person who provides services as an independent contractor to a political subdivision that created the plan may participate in the deferred compensation plan. (59614)

(b) For the purposes of Subchapter A and this subchapter, an independent contractor that is authorized to participate in a deferred compensation plan is treated as an employee of the political subdivision creating the plan. (59615)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59616)

Sec. 609.110. CHANGING AMOUNT DEFERRED. (59617)(Text)

An employee may change the amount to be deferred by notifying the plan administrator of the change in accordance with the requirements of the administrator. (59618)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59619)

Sec. 609.111. DISTRIBUTION. (59620)(Text)

A plan administrator shall develop and implement procedures for: (59621)

(1) the designation by a participating employee of a beneficiary to receive the employee's deferred amounts and investment income after the employee's death; and (59622)

(2) the distribution of a participating employee's deferred amounts and investment income to the employee or the employee's beneficiary, as appropriate, because of the employee's death or termination of employment, a financial hardship, or another reason permissible under federal law. (59623)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59624)

Sec. 609.112. FEE. (59625)(Text)

(a) A political subdivision or group of political subdivisions that creates a deferred compensation plan may assess a fee for the administration of the plan against each participating employee. (59626)

(b) The political subdivision or group of political subdivisions shall determine the method for computing and assessing the fee. (59627)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59628)

Sec. 609.113. EVALUATION AND APPROVAL OF QUALIFIED VENDOR. (59629)(Text)

(a) A plan administrator shall develop and implement criteria and procedures for evaluating a vendor's application to become a qualified vendor. (59630)

(b) A plan administrator may not approve a vendor's application if the vendor is: (59631)

(1) a state or national bank or savings and loan association, the deposits of which are not insured by the Federal Deposit Insurance Corporation; (59632)

(2) a credit union, the deposits of which are not insured by the National Credit Union Administration Board or the Texas Share Guaranty Credit Union; or (59633)

(3) an insurance company that: (59634)

(A) is not a member of the Texas Life and Health Insurance Guaranty Association; or (59635)

(B) is an impaired or insolvent insurer under Chapter 463, Insurance Code. (59636)

(c) On written request, the Texas Department of Insurance shall certify in writing to a plan administrator whether an insurance company is prohibited from being approved as a qualified vendor under Subsection (b)(3). The plan administrator may rely on the certification. (59637)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59638)

Amended by: (59639)

Acts 2011, 82nd Leg., R.S., Ch. 14 (S.B. 567), Sec. 12, eff. September 1, 2011. (59640)

Sec. 609.114. NUMBER OF VENDORS UNDER 457 PLAN. (59641)(Text)

The plan administrator of a 457 plan shall determine the minimum and maximum number of vendors that may be qualified vendors for the plan at any given time. (59642)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59643)

Sec. 609.115. CONTRACT WITH QUALIFIED VENDOR. (59644)(Text)

(a) After a plan administrator approves an application of a vendor to become a qualified vendor or, under a 401(k) plan, after the plan administrator approves an application of a vendor to become a qualified vendor and approves the vendor's investment products, the plan administrator shall execute a written contract with the vendor to participate in the deferred compensation plan. (59645)

(b) A plan administrator shall develop and implement criteria and procedures for evaluating a qualified vendor's investment products to determine whether those products are acceptable as qualified investment products. (59646)

(c) A qualified vendor may offer to employees participating in a 457 plan only qualified investment products. (59647)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59648)

Sec. 609.116. REGULATION OF QUALIFIED VENDORS. (59649)(Text)

A plan administrator shall develop and implement requirements for qualified vendors and their employees concerning disclosure, reporting, standards of conduct, solicitation, advertising, relationships with participating employees, the nature and quality of services provided to those employees, and other matters. (59650)

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. (59651)

Sec. 609.117. LOANS UNDER 401(K) PLAN. (59652)(Text)

The plan administrator of a 401(k) plan shall develop and implement procedures to efficiently administer a program that allows a qualified vendor to lend money to a participating employee. (59653)

Goto previous page1678Goto next page

Suggested Topics for [employee injury]
Practice AreaTopicRelevance
Accident LawAlcohol Related16
Accident LawBar Related16
Injury LawAlcohol Related16
Injury LawBar Related16
Accident LawEmployee Accident14
Accident LawEmployee Injury5
Accident LawOccupational Disability5
Accident LawOccupational Disability Benefit5
Accident LawOccupational Injury5
Accident LawOccupational Disease4
Accident LawOn-the-job Injury3
Accident LawWork Injury3
Accident LawWorkplace Accident3
Accident LawWorkplace Injury3
  

Our Mission
Objective

Our mission is to provide citizens free access to the laws and codes of their state utilizing a unique search engine that matches clients with qualified legal professionals who can help with specific issues.

Our goal is to do this in a manner that promotes open government and freedom of information, while providing attorneys with valuable tools to connect with qualified prospects in need of professional services.

Ignorance Is No Excuse
Your Right To Know The Law

All citizens have a right to have access to the laws that govern them. Citizen awareness and participation in government is fundamental to ensuring a sound democracy.

Although unfettered access to the law is a fundamental right to all citizens, there is no substitute for experienced legal counsel.

We do not recommend self-representation. We do, however, recognize that in an age where people routinely research legal matters online using everything from a smartphone to their xbox, both attorneys and clients alike can benefit from this resource.