HomeMy WebLinkAboutORD 1215 Authorizing TMRS Updated Service Credits
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ORDINANCE NUMBER 1215
AN ORDINANCE AUTHORIZING AND ALLOWING UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UP-
DATED SERVICE C~EDITS'J IN SAID SYSTEM FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM WHO
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF WEST
UNIVERSITY PLACE; AND EST~BLISHING AN EFFECTIVE
DATE FOR SUCH ACTIONS.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WEST UNIVERSITY PLACE, TEXAS:
Section 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63.401 through
63.403 of Title 110B, Revised Civil Statutes of Texas, 1925, as amended, each
member of the Texas 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, 1984, by reason of service in the employment of the City of
West University Pl,ace, and on such date has at least 36 months of credited
service with said system, shall be and is h~reby allowed "Updated Service
Credit" (as that term is defined in subsection (d) of Section 63.402 of said
title) in an amount that is 100% of the "base Updated Service Credit" of the
member (calculated as provided in subsection (c) of Section 63.402 of said
title). The Updated Service Credit hereby allowed shall replace any Updated
Service Credit, prior service credit, special prior service credit, or ante-
cedent service credit previously authorized for part of the same service.
(b) On the terms and conditions set out in Section 63.601 of said
title, any member of the Texas Municipal Retirement System who is el igible for
Updated Service Credlts 6n the basis of service with this City, and who has
unforfeited credit for prior service and/or current service with another par-
ticipating municipality or municipalities by reason of previous service, and
was a contributing member on January 1, 1983, shall be credited with Updated
Service Credits pursuant to, calculated in accordance with, and subject to
adjustment as set forth in said 63.601.
(c) In accordance with the provisions of subsection (d) of Section
63.401 of said title, the deposits required to be made to the Texas Municipal
Retirement System by employees of the several participating departments on
account of current service shall be calculated from and after the date afore-
said on the full amount of such person's earnings as an employee of the City.
Section 2. Effective Date. 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, 1984.
PASSED AND APPROVED on First Reading this 28th day of November, 1983.
PASSED AND APPROVED on Second Reading this 12th day of December, 1983.
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ATTEST:
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Lee Lockard, City Secretary
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Marla Forristall, Mayor
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