Sec. 103.004.  VALUATION OF CERTAIN BENEFIT PROGRAMS.  (a)  A municipality that provides a continuing organized program of service retirement benefits, disability retirement benefits, or death benefits for any of its officers or employees must include in the annual financial statement a valuation of the financial assets and liabilities of the program as shown in the most recent actuarial valuation of the program.
(b)  This section does not apply to:
(1)  a program for which the only funding agency is a life insurance company;
(2)  a program providing only workers' compensation benefits;  or
(3)  a program administered by the municipality as a member of the Texas Municipal Retirement System.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.