Texas Administrative Code
Title 40 - SOCIAL SERVICES AND ASSISTANCE
Part 17 - STATE PENSION REVIEW BOARD
Chapter 607 - PUBLIC RETIREMENT SYSTEM MINIMUM EDUCATIONAL TRAINING PROGRAM
Subchapter A - GENERAL PROVISIONS
Section 607.107 - Exemption for Certain System Administrators
Universal Citation: 40 TX Admin Code ยง 607.107
Current through Reg. 49, No. 38; September 20, 2024
(a) The Board may grant an exemption to a PRS for certain types of system administrators from the MET requirements on a case-by-case basis if:
(1) the PRS designates
an outside entity (a bank or a financial institution) as the system
administrator, and the PRS board of trustees or its designee completes and
forwards to the Board a request for exemption on a form provided by the Board
indicating the same; or
(2) the PRS
does not have a system administrator that meets the statutory definition as
contained in the Texas Government Code, §
801.001(3)
and §
802.001(4)
and the governing body of the PRS or its designee completes and forwards to the
Board a request for exemption, on a form provided by the Board, certifying that
the PRS does not have a system administrator. The request shall include a
statement affirming that one or more trustees of the PRS are responsible for
the duties of the system administrator and are already subject to the MET
requirements.
(b) If the Board granted an exemption to a PRS under subsection (a) of this section and the exemption is no longer applicable, the PRS shall report the same to the Board, and the exemption shall be revoked.
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