HomeMy WebLinkAboutORD 861 Increase Municipal Contribution in TMRS
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ORDINANCE NUMBER 861
AN ORDINANCE PROVIDING FORIJ,\TCREASED MUNICIPAL
CONTRIBUTIONS FOR CURRENT SERVICE ANNUITY OF EMPLOYEES
OF THE CITY OF WEST UNIVERSITY PLACE, TEXAS PARTICT.. ..
PATING IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM; ANI)
PROVIDING AN EFFECTIVE DATE.
WHERElIB, under the provisions cf Chapter 682, Acts Regular
Session, 59th Legislature, cities are authorized to provide for larger
current service al1nuitybenefitsfor employees participating in the
Texas Municipal Retirement System; and
WHEREAS, the City Commission of the City of West University
Place, Texas is of the opinion tha~ provisions for increased current
service annuities for its participating members is desirable; and
NOW, THEREFORE,BEIT ORDAINED BY THE CITY COMMISSION OF THE
CITYOF:':wEST UNIVERSITY PLACE ,TEXAS:
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Section 1. For each month of current service rend~red by each
of its employees participating in the Texas Municipal Retirement System
the city~jll contribute to the current service annuity account a sum
that is double the normal current service annuity rate as determined
by the actuary of the Texas Municipal Retirement System.
Section 2. That the increased contributions to the current
service annuity account of each 'participating member of said system
shall be paid from city funds by the City Treasurer each month to said
system.
Section 3. That the effective date for the increased contri-
butions to the current service annuity account for each participating
employee of the city shall be January 1, 1966.
PASSED AND APPROVED this 27th day of September, 1965.
COMMISSIONERS VOTllifG AYE:
COMMISSIONERS VOTIl'iG NO::
All
None
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MAYOR
ATTEST:
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