| (a) The Executive Director shall require periodic reports
of local boards and participating department heads. The Executive
Director shall specify the content of such periodic reports to ensure
the ability of the state board and the Executive Director to administer
the pension system in a manner that uses fund assets in a manner required
by statute.
(b) A report required in accordance with this section
is late if it is not received by the Executive Director before the
end of the second month following the last day required to be covered
in the report.
(c) An administrative penalty is imposed on each late
periodic report required in accordance with this section. The penalty
is $500 for each violation, except that a surcharge of $100 will be
added to the penalty for each month the report remains late.
(d) The Executive Director may waive an administrative
penalty under this section if the Executive Director determines, after
a written request by a local board or a participating department head
for a waiver, that the delay in reporting was beyond the control of
the parties responsible for preparing and submitting the report and
was not the result of neglect, indifference, or lack of diligence.
(e) A local board or participating department head
may appeal the Executive Director's denial of a waiver to the state
board to be determined at the state board's next scheduled meeting.
On appeal to the state board, the state board is subject to the same
standard for determination as the Executive Director but may in its
discretion accept additional information from the local board or the
participating department head.
|
| Source Note: The provisions of this §310.9 adopted to be effective October 2, 2005, 30 TexReg 6063; amended to be effective August 31, 2014, 39 TexReg 6870; amended to be effective March 29, 2018, 43 TexReg 1878; amended to be effective December 31, 2019, 44 TexReg 8335 |
