The Board of Trustees of the Texas County and District Retirement System hereby establishes a qualified governmental excess benefit program in accordance with §415(m) of the Internal Revenue Code and as authorized under §845.504, Government Code. The program entitled as the "Texas County and District Retirement System Qualified Replacement Benefit Arrangement" is maintained solely for the purpose of providing for the payment of that portion of the annual retirement benefits that had been accrued by and would otherwise be payable with respect to a member of the Texas County and District Retirement System but for the limitation on the payment of benefits under §415(b) of the Internal Revenue Code of 1986, as amended.