HomeMy WebLinkAboutORD 1490 - ORD Authorizing TRMS Updated Service Credit
ORDINANCE NUMBER 1490
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED
SERVICE CREDITS IN SAID SYSTEM ON AN ANNUAL BASIS FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM WHO AT THE
EFFECTIVE DATE OF THE ALLOWANCE ARE IN THE EMPLOYMENT OF THE
CITY OF WEST UNIVERSITY PLACE; AND ESTABLISHING AN EFFECTIVE
DATE FOR THE ORDINANCE
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 853.401 through
853.403 of Subtitle G of Title 8, Government Code, as amended (hereinafter referred to as
the "TMRS Act"), each member of the Texas Municipal Retirement System (hereinafter
referred to as the "System") who has current service credit or prior service credit in the
System in force and effect on the 1st day of January of the calendar year preceding such
allowance, by reason of service in the employment of the City, and on such date has at
least 36 months of credited service with the System, shall be and is hereby allowed
"Updated Service Credit" (as that term is defined in subsection (d) of Section 853.402 of
the TMRS Act).
(b) On the terms and conditions set out in Section 853.601 of said title,
any member of the 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 the 1st day of January of the calendar year
preceding such allowance, shall be credited with Updated Service Credits pursuant to,
calculated in accordance with, and subject to adjustment as set forth in said 853.601, both
as to the initial grant thereunder and all future grants under this ordinance.
( c) The Updated Service Credit hereby allowed and provided for shall
be 100% of the "base Updated Service Credit" of the member (calculated as provided in
subsection (c) of Section 853.402 of the TMRS Act).
(d) Each Updated Service Credit allowed hereunder 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.
(e) The initial allowance of Updated Service Credit hereunder shall be
effective on January 1, 1995, subject to approval by the Board of Trustees of the System.
An allowance shall be made hereunder on January 1 of each subsequent year until this
ordinance ceases to be in effect under subsection (e) of Section 853.404 of the TMRS
Act, provided that, as to such subsequent year, the actuary for the System has made the
determination set forth in subsection (d) of Section 853.404 of the TMRS Act.
(f) In accordance with the provisions of subsection (d) of Section
853.401 of the TMRS Act, the deposits required to be made tot he System by employees
of the several participating departments on account of current service shall be calculated
from and after the effective date of this ordinance on the full amount of such person's
compensation as an employee of the City.
Section 2. Effective Date. Subject to approval by the Board of Trustees of
the System, this ordinance shall be and become effective on the 1st day of January, 1995,
Section 3. All ordinances and parts of ordinances in conflict herewith are
hereby repealed to the extent of the conflict only.
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 this ordinance and the application of such work, phrase, clause, sentence,
paragraph, section or other part of this ordinance to any other persons or circumstances
shall not be affected hereby. '
Section 5. The City Council officially finds, detennines 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, Chapter 551, Texas Local Government Code, as amended, and
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
confirms such notices and the contents and posting thereof
~ PASSED AND APPROVED ON FIRST READING TIllS
. ~~ , 1994.
7;:n6 DAY OF
Voting Aye:
Voting Nay:
Absent:
, WSED AND APPROVED ON SECOND READING TillS
OF ~ ,1994.
/~~ DAY
Voting Aye:
Voting Nay:
Absent:
Signed:
.fh~~
Bill Watson
Mayor
ATTEST:
~RM
Jim Dougherty, Jr.
City Attorney
(SEAL)