06-90-Ordinance-Texas Municipal Retirement System Updated Service Credits-09/04/1990r
BE ORDAINED BY THE CITY COUNCIL OF THE CITY OF
SANGER,
`� .f.. R 4.. A.
(a) On the terms and conditions set out in Sections 853.401
through 853.403 of Subtitle C of Title 8, V. T. C. A., Government
Code, as amended, each member of the Tees Municipal Retirement
System who has current service credit or prior service credit in
said System in force and effect on the 1st day of January, 1990, by
reason of service in the employment of the City of Sanger, and on
such date has at least 36 months of credited service with said
system, shall be and is hereby allowed "Updated Service Credit' (as
that term is defined in subsection (d) of Section 853,402 of said
title) in an amount that is 100% of the "base Updated Service
Credit" of the member (calculated as provided in subsection (r) of
Section 853.402 of said title). The Updated Service Credit
hereby allowed shall replace any Updated Service Credit, prior
service credit, special prior service credit, or antecedent service
credit previously authorized for part of the same service,
subsection(b) In accordance with the provisions of
853.401 of said title, the deposits required to be made to the t
Municipal Retirement
shallparticipating departments on account of current service
calculatedx,
such person's earnings as an employee
COMBINEDORDINANCE #00-90 ") UPDATED SERVIC
R EDITANC R EASED CITY MATCHING
Section 2. Effective mate, Subject to approval by the Board of
Trustees of the Texas Municipal Retirement System, the updated
service credits granted hereby shall be and become effective on the
1st day of January, 1991,
BE IT FURTHER ORDAINED BY THE CITY COUNCIL OF SANGER)
That effective January 1, 1991, for each month of current service
thereafter rendered by each of its employees who are members of
the Texas Municipal Retirement System, the City will contribute to
the current service annuity reserve of each such member at the
time of his or her retirement, a sum that is 200% of such member- s
accumulated deposits for such month of employment; and said sum
shall be contributed from the City's account in the municipality
accumulation fund.
PASSED AND APPROVED this _Ifday of
1990 by the City Council of the City of Sanger, Denton 6ounty, Texas.
ATTEST:
Ros lie Garcia, City Secretary
Nel Armstrong
Mayor