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02-05-99-Ordinance-Texas Municipal Retirement System Proir Service Credit-02/15/1999Ordinance No. 02-05-99 TMRS-PSC/Restricted TEXAS MUNICIPAL RETIREMENT SYSTEM AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, RESTRICTED PRIOR SERVICE CREDIT TO EMPLOYEES WHO ARE MEMBERS OF THE SYSTEM FOR SERVICE PREVIOUSLY PERFORMED FOR VARIOUS OTHER PUBLIC ENTITIES FOR WHICH THEY HAVE NOT RECEIVED CREDITED SERVICE; AND ESTABLISHING AN EFFECTIVE DATE FOR THE ORDINANCE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SANGER TEXAS: Section 1. Authorization of Restricted Prior Service Credit. (a) On the terms and conditions set out in Sections 853.305 of Subtitle G of Title 8, Texas 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 is now or who hereafter becomes an employee of this City shall receive restricted prior service credit for service previously performed as an employee of any of the entities described in said Section 853.305 provided that (1) the person does not otherwise have credited service in the System for that service, and (2) the service meets the requirements of said Section 853.305. (b) The service credit hereby granted may be used only to satisfy length -of -service requirements for retirement eligibility, has no monetary value in computing the annuity payments allowable to the member, and may not be used in other computations, including computation of Updated Service Credits. (c) A member seeking to establish restricted prior service credit under this ordinance must take the action required under said Section 853.305 while still an employee of this City. Section 2. This ordinance shall become effective on the first day of March 19 cam_. Passed and approved 19 99 ATTEST: a City Secretary/or Clerk this the 15th day of February