HomeMy WebLinkAboutORD 1267 - ORD Authorizing & Allowing TRMS Updated Service Credits
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ORDINANCE NUMBER 1267
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AN ' 'ORDINANCE' AUTHORIZING, AND', ALLLOWING,
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
PR[SENTl Y ARE: 'IN '\ THE, EMPLOYMENT OF. .-THE CITY
OF WEST UNIV~RSITY, PLACE" .PROVIDING' FOR
INCREASED PRIOR AND ,. , CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES' OF
DECEASED' RETIREES' :'1 OF THE CITY; AND
ESTABLISHING AN EFFECTIVE -DATE FOR SUCH
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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 ahdconditions set out in Sections 63.401 through
63.403 of Title 110B, Revis~dCivil 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,mqnths of credited service with said system, shall be and
is hereby allowed i'Updated:'5ervlte 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 cr~djt previously authorized for part Of the same
service. .
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(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
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,
1986, 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 " '1
Section 63.401 of said title, the deposits required to be made to the
Texas Municipal Retirement System by employees of the several : l
participating departments on account of current service shall be I \
calculated from and after the date aforesaid on the full amount of such '~
person's earnings as an employee of the City.
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Section 2., Increase in'RetirementAnnuities.
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(a) On terms and'conditions'set out in Section 64.203 of Title
110B, Revised Civil Statutes of Texas, 1925, as amended, the City of
West University Place hereby elects to allow and to provide for payment
of the increases below stated in: monthly benefits payable by. the Texas
Municipal Retirement System to retired employees and to beneficiaries
of deceased employees of this City under current service annuities and
prior service annuities arising from service by such employees to this
City. An annuity increased:uhoer this Section replaces any annuity or
increased annuity previously granted to. the same person.
(b) The amount of annuity increase under this Section is computed
as the sum of the prior and current service annuities on the effective,
date of retirement of the 'person'on'whose service the annuities are
based, multiplied by 70% of the percentage change in Consumer Price
Index for All Urban Consumers, from December of the year immediately
preceding the effective datelofthe person's retirement to the December
that is 13 months before the effective date of this ordinance.
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Section 4. If any word, phrase, clause, sentence, paragraph,
section or other part of this ordinance or the application thereof to
any person or circumstance, shall ever be held to be invalid or
unconstitutional by any court of competent jurisdiction, the remainder
of thi's ordinance and the application of such word, phrase, clause,'
sentence, paragraph, section or other part of this ordinance to any
other persons or circumstances shall not be affected thereby.
Section 5. All ordinances and parts of ordinances in conflict
herewith are hereby repealed to the extent of the' conflict only.
Section 6. The City Council officially finds, determines and
declares that a sufficient written notice of the date, hour, place and
subject of each meeting at which this ordinance was discussed,
considered or acted upon was given in the manner required by the Open
Meetings Law, TEX. REV. CIV. STAT. ANN. art. 6252-17, as amended, and
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that each such meeting has,been open to the public as required by law
at all times during such discussion, 'consideration and action. The
City Council. ratifies, approves and ccmfirms 5l:Jch notices and the
contents and. posting thereof.
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PASSED,AND APPROVED ON FIRST. READING this the 22nd day of
,September, , 1986.
Councilmembers Voting Aye:
Councilmembers Voting,No:
Counci lmembers ,Absent:
Mayor Parks, Councilmembers
Higley, Bryan, Schwartzel
-. None
Councilmember Cummings (resigned)
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PASSED AND APPROVED, ON SECOND READING this the 13th day of
October ,,1986.
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Mayor Pro Tem Higley,
Counc:ilmembers, Bryan:, Schwartzel
None
Mayor Parks
'Councilmember Cummings (resigned)
Councilmembers Voting Aye:
Councilmembers Voting No:
Councilmembers Absent:
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Laura C. Higley,
Mayor Pro Tem
ATTEST:
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,Approved as to Form:
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James L., Dougherty, Jr.
" City Attorney
Audrey, Ni cho ls.,
City Secretar1
(SEAL)
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