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SB 581, 64th Regular Session
Relating to pension systems for firemen, policemen, and fire alarm operators in certain cities in the state; adding provisions authorizing the Board of Trustees of the Firemen, Policemen, and Fire Alarm Operators' Pension Fund to appoint an administrator, to contract for assistance of professional investment managers, and to make related custody account agreements with banks; relating to the duties, qualifications, and compensation of the administrator and an investment manager; amending provisions to clarify functions of city secretary and treasurer and the appropriation, use, and expenditure of public funds; amending provision on investment to require rule of ordinary prudence with board authorized to determine procedure for investing and withdrawing funds including surplus funds.
Last action: Effective immediately
Author: Ron Clower
Sponsor: Ray Hutchison
Session Law Chapter:
Acts 1975, 64th R.S.,ch. 304, General and Special Laws of Texas
Retirement Systems--Police & Firefighters
House Committee: Intergovernmental Affairs ()
May 15 1975
Senate Committee: Intergovernmental Relations ()
May 8 1975
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