The board may provide retirement benefits for district employees by:

1. (1) establishing or administering a retirement program; or

2. (2) participating in:

   1. (A) the Texas County and District Retirement System; or
   2. (B) another statewide retirement system in which the district is eligible to participate.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.