HomeMy WebLinkAboutORD 1248 - ORD Authoring & Allowing TMRS Updated Service Credits for Service Performed by Qualifying Members.
241.
ORDINANCE NUMBER 1248
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING
THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED SERVICE CREDITS"
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 ESTABLISHING AN EFFECTIVE DATE FOR
SUCH ACTIONS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WEST UNIVERSITY
PLACE, TEXAS:
Section 1. Authorization of Updated Service Credits.
1]
(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, 1986, by reason of service in the
employment of the City of West University Place, and on such date has
at least 36 months of credited service with said system, shall be and
is hereby 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
antecedent service credit previously authorized for part of the same
service.
(b) On the terms and conditions set out in Section 63.601 of said
ti tIe, any member of the Texas Municipal Retirement System who is
eligible for Updated Service Credits on the basis of service with this
City, and who has unforfeited credit for prior service and/or current
service with another participating municipality or municipalities by
reason of previous service, and was a contributing member on January 1,
1985, 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 prov~s~ons 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 aforesaid on the full amount of such
person's earnings as an employee of the City.
JJ.,JJ
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Section 2. Effective Date. Subject to approval by the Board of
Trustees of Texas Municipal Retirement System, the updated service
credits and increases in retirement annuities granted hereby shall be
and become effective on the 1st day of ,January, 1986.
PASSED AND APPROVED ON FIRST READING this ~ day of
November , 1985.
PASSED AND APPROVED ON SECOND READING this 25 day of
November , 1985.
Councilmembers Voting Aye:
Mayor Parks, Councilmembers
Higley, Cummings, Schwartzel
None
Councilmember Bryan
Councilmembers Voting No:
Councilmembers Absent:
Michael L. Parks, Mayor
ATTEST:
APPROVED AS TO FORM:
Audrey Nichols, City Secretary
(SEAL)
James L. Dougherty, Jr.
City Attorney
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