Laserfiche WebLink
i • <br />The City of La Porte recently adopted a TMRS option, allowing employees to <br />retire, at any age, ~Nith 20 years service. This revised the formed adopted policy <br />of 25 years at any .age. The medical coverage policy did not change. <br />At a recent Council meeting, the City recognized an employee who retired at the <br />end of June. He head worked for the City 16 years and had bought his military <br />time (4 years), whir.,h allowed him to retire with 20 years in the TMRS system. <br />His insurance will be covered per the policy above and he will pay the City $450 <br />per year. His spouse is covered where she works and he declined coverage for <br />her. <br />Another example i;~ a current employee who is 42 years old with 22 years of <br />service with the City. If he retired now, his monthly annuity would be $1,682. His <br />insurance would be paid by the City due to him having more than 20 years with <br />the City. <br />The City has a total of 27 retirees, 25 of which have remained on the City's <br />insurance. Fifteen of those have dependent coverage. <br />