This law establishes that the assets of a specific fund are held in trust solely for the benefit of participants and beneficiaries. It ensures that these assets cannot be diverted and mandates that financing for benefits is based on sound actuarial principles.
Assets are exclusively for participants and beneficiaries.
No diversion of fund assets is allowed.
Financing must adhere to sound actuarial principles.
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In simple terms: Learn about Texas's law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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