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<br />;0 <br /> <br />. <br /> <br /> <br />. <br /> <br />TMRS-C- T <br />(Rev. 6-83) <br /> <br />, <br /> <br />" <br /> <br />ORDINANCE NO. 1566 <br />TEXAS MUNICIPAL RETIREMENT SYSTEM <br /> <br />AN ORDINANCE AUTHORIZING AND ALLOWING, <br />UNDER mE ACT GOVERNING THE TEXAS MUNICIPAL <br />RETIREMENT SYSTEM, "UPDATED SERVICE.. CREDITS" <br />IN SAID SYSTEM FOR SERVICE PERFORMED BY <br />QUALIFYING MEMBERS OF SUCH SYSTEM WHO <br />PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY <br />OF IA PORTE. TEXAS ; PROVIDING FOR <br />INCREASED PRIOR AND CURRENT SERVICE ANNUITIES <br />FOR RETIREES AND, BENEFICIARIES OF DECEASED <br />RETIREES OF THE CITY; AND ESTABLISHING AN <br />EFFECTIVE DATE FOR SUCH ACTIONS. <br /> <br />BE IT ORDAINED <br /> <br />T .~ P{)'Rl'R <br /> <br />BY THE CITY <br />. TEXAS: <br /> <br />COUNCIL <br /> <br />OF <br /> <br />THE <br /> <br />CITY <br /> <br />OF <br /> <br />Section 1. Authorization of Updated Service Credits. <br />(a) On the terms and conditions set out in Sections 63.401 through 63.403 of Title 110B, <br />Revised Civil Statutes of Texas, 192.5, as amended, each member of the Texas Municipal <br />Retirement System who has current service credit or prior service credit in said System in <br />force and effect on the Ist day of January, 1988, by reason of service in the employment of <br />the City of La Porte , and on such date has at least 36 months of <br />credited service with said system, shall be and is hereby allowed "Updated Service Credit" (as <br />that term is defined in subsection (d) of Section 63.402 of said title) in an amount that is <br />10096 of the "base Updated Service Credit" of the member. (calculated as provided in <br />subsection (c) of Section 63.402 of said title). The Updated Service Credit hereby allowed <br />shall replace any Updated Service Credit, prior service credit, special prior service credit, or <br />antecedent service credit previously authorized for part of the same service. <br />(b) On the terms and conditions set out in Section 63.601 of said title, any member of <br />the Texas Municipal Retirement System who is eligible for Updated Service Credits on the <br />basis of service with this City, and who has unforfeited credit for prior service and/or current <br />service with another participating municipality or municipalities by reason of previous <br />service, and was a contributing member on January 1, 1987, shall be credited with Updated <br />Service Credits pursuant to, calculated in accordance with, and subject to adjustment as set <br />forth in said 63.601. <br />(c) In accordance with the provisions of subsection (d) of Section 63.401 of said title, <br />the deposits required to be made to the Texas Municipal Retirement System by employees of <br />the several participating departments on account of current service shall be calculated from <br />and after the date aforesaid on the full amount of such person's earnings as an employee of <br />the City. <br />