Texas Government Code 863.005 – Charge for Certain Past Due Contributions
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Terms Used In Texas Government Code 863.005
- Rule: includes regulation. See Texas Government Code 311.005
The state board by rule may impose an interest charge on contributions due because of a correction of an error related to enrollment or qualified service. The charge must be based on the pension system’s current assumed rate of return. Charges collected shall be deposited in the fund.