The following words and terms, for the purposes of this chapter, shall have the following meanings, unless the rule indicates otherwise.

(1) "Board" means the State Pension Review Board.

(2) "Credit hour" means the actual amount of instruction time for an MET activity expressed in terms of hours. The number of MET credit hours shall be based on sixty (60) minutes of instruction per hour.

(3) "First year of service" means the twelve-month period beginning from the date of assuming one's position on the governing body or hiring date.

(4) "Governing body of a PRS" means, as provided in Texas Government Code §802.001(2).

(5) "Minimum Educational Training" shall have the same meaning as assigned by §607.110 of this chapter.

(6) "MET" means Minimum Educational Training.

(7) "MET activity" means any organized in-person or online pension-related educational activity, which may include, but is not limited to, organized seminars, courses, conferences, lectures, panel discussions, audio, teleconference, video, and digital media presentations, question-and-answer periods, and in-house education.

(8) "Net actual instruction time" means time spent on instruction, not including any breaks, or other non-educational activities including promotion of particular products or services as prescribed by §607.120(a)(3) of this chapter (relating to Program Standards for All Sponsors).

(9) "Public retirement system" shall have the same meaning as assigned by §801.001(2) and §802.001(3) of the Texas Government Code, but shall not include defined contribution plans as defined by Texas Government Code, §802.001(1-a) and retirement systems consisting exclusively of volunteers organized under the Texas Local Fire Fighters' Retirement Act as defined by Texas Government Code, §802.002(d).

(10) "PRS" means public retirement system.

(11) "Sponsor" means an individual or organization offering training programs to trustees and system administrators. The sponsor may or may not have developed the program materials. However, the sponsor is responsible for ensuring the program materials present the necessary learning objectives and for maintaining the documentation required by this chapter.

(12) "Statutorily authorized designee" means an individual other than the trustee, designated by the trustee as authorized under the governing statute of the PRS or any other statute.

(13) "System administrator" means as defined by Texas Government Code §801.001(3) and §802.001(4).

(14) "Trustee" means as provided in Texas Government Code §801.001(4).

Source Note: The provisions of this §607.104 adopted to be effective September 18, 2014, 39 TexReg 7343