§802.2011, Texas Government Code, requires the governing body of a public retirement system and, if the system is not a statewide retirement system, its associated governmental entity to jointly develop and adopt a written funding policy that details a plan for achieving a funded ratio equal to or greater than 100%. 

The policy shall be timely revised to reflect any significant changes to the policy, including changes required as a result of formulating and implementing a funding soundness restoration plan (FSRP), including a revised FSRP.

The written funding policy must outline any automatic contribution or benefit changes designed to prevent having to formulate a revised FSRP, including any automatic risk-sharing mechanisms that have been implemented, the adoption of an actuarially determined contribution structure, and other adjustable benefit or contribution mechanisms.