HomeMy WebLinkAboutORD 1051 - ORD Determining to Grant Provide Under the Act Governing TRMS "Updated Service Credit"
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ORDINANCE NUMBER 1051
AN ORDINANCE DETERMINING TO GRANT, PROVIDING FOR'AND
ALLOWING, UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL
RETIREMENT SYSTEM', II UPDATED' SERVICE CREDIT'"IN SAID'
SYSTEM FOR SERVICE PERFORMED'BY QUALIFYING MEMBERS OF
SUCH SYSTEM IN THE EMPLOYMENT OF THE CITY OF WEST UNI~
VERSITY PLACE, TEXAS, ELECTING AND PRESCRIBING THE
EFFECTIVE DATE OF SUCH UPDATED SERVICE CREDITS. .
BE IT ORDAINED BY THE CITY COMMISSION'OF THE CITY OF WEST UNIVERSITY
PLACE, TEXAS:
Section 1. Initial Allowance of Updated Service Credits.
(a) On the termS and conditions set out in Section XVII of Article
6243h, Vernon's Texas CiVil Statue.s, as amended 1975 ,each member. of ,Texas,
Municipal Retirement System who ha.s cur'rent service 'credit o'rprior service
credit in said System in force and effect on the 1st day of January, 1976 by
reason of service in the employment of the City ofW'est University Place, Texas,
shall be and' is hereby allowed "updated service. credit II (as that term is de-
fined,in said act)' on an amount that,is 100% of' the,lIBase Updated,Service
Credit" of the member', calculated as provided in said act. The upda.ted service
credit hereby allowed shall be in lieu of an in substitution for all Prior
Service Credits, Special Prior Service Credits, and Antecedent Service Credits,
if any, heretofore allowed such member by reason of service with the City of
West University Place, Texas.
(b) In accordancewfth the' provisions of said act, the deposits re-
q~ired to be made to the Texas Municipal Retirement System by employees of the
several participi;lting' departments 'on account of current service shall be calcu-
lated from and 'after the date aforesaid on the full amount of such person's
earnings as an employee of the city. '
(c) Subject to approval of the Board of Trustees of Texas Municipal
Retirement System, the updated service credits hereby granted shall be and be-
come effective the 1st day of January, 1976.
PASSED AND APPROVED this 24th day of November, 1975.
Commissioners Voting Aye: All'
ATTEST:
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Mayor
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Assistant City Secretary
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