(a) A public retirement system adhering to a legacy funding soundness restoration plan may continue following that plan until the earlier of:
  (1) the target date; or,
  (2) the date of an actuarial valuation that indicates the system's funding period is at or below 30 years.
(b) actuarial valuations with valuation dates during a time that a system is adhering to a legacy funding soundness restoration plan shall not be counted towards triggering a funding soundness restoration plan under Texas Government Code §802.2015(c) or §802.2016(c) as it stands after September 1, 2021, until after the applicable date described in subsection (a) of this section when the system completes the legacy funding soundness restoration plan.

Source Note: The provisions of this §610.21 adopted to be effective October 26, 2022, 47 TexReg 7068