020-91-Ordinance-Texas Municipal Retirement System Updated Service Credits 4.57%-10/07/1991ORDINANCE #020-91
CITY SECRETARY
ORIGINAL COPY TEXAS MUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE AUTHORIZING AND ALLOWING,
UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL
RETIREMENT SYSTEM, "UPDATED SERVICE CREDITS"
IN SAID SYSTEM ON AN ANNUAL BASIS FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH
SYSTEM WHO AT THE EFFECTIVE DATE OF THE
ALLOWANCE ARE IN THE EMPLOYMENT OF THE CITY
OF _ Sanaer ; AND ESTABLISHING AN
EFFECTIVE DATE FOR THE ORDINANCE.
TMRS-C/A-R
(6-1991)
"r
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF Sanger TEXAS:
Section 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 853.401 through 853.404 of Subtitle
G of Title 8, V.T.C.A., Government Code, as amended, (hereinafter referred to as the "TMRS
Act"), each member of the Texas Municipal Retirement System (hereinafter referred to as
the "System") who has current service credit or prior service credit in the System in force
and effect on the 1st day of January of the calendar year preceding such allowance, by reason
of service in the employment of the City of _Sanger (hereinafter called the "City"),
and on such date had at least 36 months of credited service with the System, shall be and is
hereby allowed "Updated Service Credit" (as that term is defined in subsection (d) of Section
853.402 of the TMRS Act).
(b) The Updated Service Credit hereby allowed and provided for shall be 4 .57% of the
"base Updated Service Credit" of the member (calculated as provided in subsection (c) of
Section 853.402 of the TMRS Act). If the City has previously adopted, or if it hereafter
adopts an ordinance authorizing Updated Service Credit for unforfeited credit for prior
service or current service with any other participating municipality, the calculations and
adjustments set forth in Section 853.601 of the TMRS Act shall apply to any such transferred
service.
(c)
Each
Updated Service Credit allowed hereunder 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.
(e) The initial allowance of Updated Service Credit hereunder shall be effective on
January 1, 1992, subject to approval by the Board of Trustees of the System. An allowance
shall be made hereunder on January 1 of each subsequent year until this ordinance ceases to
be in effect under subsection (e) of Section 853.404 of the TMRS Act, provided that, as to
such subsequent year, the actuary for the System has made the determination set forth in
subsection (d) of Section 853.404 of the! TMRS Ate.
Updated Service Credit Ordinance (Repeating) . . (continued)
(e) In accordance with the provisions of subsection. (d) of .Section 853.401 of the TMRS
Act, the deposits required to be made to the System by employees of the several
participating departments on account of current service shall be calculated from and after
the effective date of this ordinance on the full amount of such person's compensation as an
employee of the City.
Section 2. Effective Date. Subject to approval by the Board of Trustees of the System,
this ordinance shall be and become effective on the lst day of January, 1992.
Passed and approved this the 7th day of
ATTEST:
Rosali Garcia, City Secretary
City Secretary or Clerk
CITYSECRETARY
ORIGINAL COPY
October
19 91
APPROVED:
Nel Armstrong, Mayor, City of Sanger
'LD
Mayor