Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 51.926 - Payroll Deductions for Qualified Retirement Plans(a) On written authorization from a football coach who is entitled to participate in a qualified football coaches plan, an institution of higher education may: (1) enter into a salary reduction agreement under which the salary of the coach is reduced by the amount of contribution to the plan; and(2) remit such contribution to the plan for credit to the coach's plan account.(b) A person who participates in a qualified football coaches plan may also participate in another retirement plan or be a member of a retirement system established by law for employees of institutions of higher education.(c) In this section: (1) "Institution of higher education" has the meaning assigned by Section 61.003 of this code.(2) "Qualified football coaches plan" means a retirement plan under Title 29 U.S.C. Section 1002(37)(F).Amended by Acts 1991, 72nd Leg., 1st C.S., ch. 13, Sec. 24, eff. 11/12/1991.Added by Acts 1991, 72nd Leg., ch. 683, Sec. 1, eff. 6/16/1991.