Texas § 203.028 SOLVENCY OF COMPENSATION FUND; RESERVE.

Texas Statutes

§ 203.028 — SOLVENCY OF COMPENSATION FUND; RESERVE.

Texas § 203.028

Code LALabor Code

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Bluebook

Tex. Labor Code Code Ann. § 203.028 (2026).

Text

Sec. 203.028. SOLVENCY OF COMPENSATION FUND; RESERVE.

(a)If the commission believes that a change in contribution or benefit rates will become necessary to protect the solvency of the compensation fund, it shall inform the governor and legislature of its belief and when the change will become necessary and shall make recommendations for the necessary change.

(b)The commission, if possible, shall maintain in the compensation fund a reserve against the liability to pay benefits in future years in excess of current contributions. The commission shall create the reserve according to accepted actuarial principles using statistics of employment, business activity, and other relevant factors for the longest possible period.

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Sec. 203.028. SOLVENCY OF COMPENSATION FUND; RESERVE. (a) If the commission believes that a change in contribution or benefit rates will become necessary to protect the solvency of the compensation fund, it shall inform the governor and legislature of its belief and when the change will become necessary and shall make recommendations for the necessary change.
(b) The commission, if possible, shall maintain in the compensation fund a reserve against the liability to pay benefits in future years in excess of current contributions. The commission shall create the reserve according to accepted actuarial principles using statistics of employment, business activity, and other relevant factors for the longest possible period.