Section 103.004 - Valuation of Certain Benefit Programs(a) A municipality that provides a continuing organized program of service retirement benefits, disability retirement benefits, or death benefits for any of its officers or employees must include in the annual financial statement a valuation of the financial assets and liabilities of the program as shown in the most recent actuarial valuation of the program.(b) This section does not apply to: (1) a program for which the only funding agency is a life insurance company;(2) a program providing only workers' compensation benefits; or(3) a program administered by the municipality as a member of the Texas Municipal Retirement System.Tex. Loc. Gov't. Code § 103.004
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987.