Texas Administrative Code

Texas Administrative Code

TITLE 34	PUBLIC FINANCE
PART 4	EMPLOYEES RETIREMENT SYSTEM OF TEXAS
CHAPTER 87	DEFERRED COMPENSATION
RULE §87.19	Reporting and Recordkeeping by Prior Plan Vendors

(e) Recordkeeping. A prior plan vendor shall retain records concerning investments in each qualified investment product by each participant. The records must be retained until the expiration of the second year after the prior plan vendor has distributed all the participant's deferrals and investment income.

(f) Quarterly reconciliation. In accordance with §87.3(b)(3)(H) of this title (relating to Participation by State Agencies), a benefits coordinator may be responsible for balancing participant and beneficiary records and reconciling those records with the data provided by qualified vendors and the plan administrator. Prior plan vendors shall assist the plan administrator and state agencies with correcting and explaining any discrepancies. Failure to assist the plan administrator and state agencies with this reconciliation will be considered a rules violation, and the plan administrator may take appropriate action under §87.21 of this title (relating to Remedies).

Source Note: The provisions of this §87.19 adopted to be effective March 28, 1991, 16 TexReg 1560; amended to be effective January 10, 1992, 16 TexReg 7743; amended to be effective November 23, 1992, 17 TexReg 7911; amended to be effective January 1, 1994, 18 TexReg 8460; amended to be effective November 9, 1994, 19 TexReg 8617; amended to be effective January 5, 1996, 20 TexReg 11022; amended to be effective November 11, 1996, 21 TexReg 10766; amended to be effective December 8, 1997, 22 TexReg 11718; amended to be effective January 5, 2003, 27 TexReg 12370; amended to be effective September 11, 2003, 28 TexReg 7785; amended to be effective September 30,2004,29TexReg 9204; amended to be effective May 29, 2005, 30 TexReg 3023; amended to be effective September 14, 2006, 31 TexReg 7367; amended to be effective December 31, 2007, 32 TexReg 10054