HomeMy WebLinkAboutO-1993-1875-D
. ORDINANCE NO. 1875 - D .
AN ORDINANCE AMENDING ORDINANCE 1875, 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 LA PORTE; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW;
AND PROVIDING AN EFFECTIVE DATE HEREOF.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE:
Section 1. Authorization of UJXlated Service Credits.
(a) On the terms and conditions set out in Sections 853.401 through 853.403 of Subtitle G of
Title 8, V.T.C.A., 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 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 853.402 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 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.
(c) In accordance with the provisions of subsection (d) of Section 853.401 of said title, the
deposits required to be made to the System by employees of the several participating departments on
account of current service shall be calculated from after the date aforesaid on the full amount of such
person's earnings as an employee of the City.
Section 2. Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 854.203 of Subtitle G of Title 8, V.T.C.A.,
Government Code, as amended, the City hereby elects to allow and to provide for payment of the
increases below stated in monthly benefits payable by the 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 under 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 ~ of the percentage change in Consumer Price Index for All Urban
Consumers, from December of the year immediately preceding the effective date of the person's
retirement to the December that is 13 months before the effective date of this ordinance.
ORDINANCE NO. 18' D
PAGE 2
.
(c) An increase in an annuity that was reduced because of an option selection is reducible
in the same proportion and in the same manner that the original annuity was reduced.
(d) If a computation hereunder does not result in an increase in the amount of an annuity,
the amount of the annuity will not be changed hereby.
(e) The amount by which an increase under this Section exceeds all previously granted
increases to an annuitant is an obligation of this City and of its account in the municipality
accumulation fund of the System.
Section 4. The City Council finds, determines, recites and declares that a sufficient
written notice of the date, hour, place and subject of this meeting of the City Council was posted
at a place convenient to the public at the City Hall of the City for the time required by law
preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government
Code; and that this meeting has been open to the public as required by law at all times during
which this ordinance and the subject matter thereof has been discussed, considered and formally
acted upon. The City Council further ratifies, approves and confirms such written notice and
the contents and posting thereof.
Section 5. 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, 1997.
PASSED AND APPROVED, this the 16th day of December, 1996.
~ CITY OF LA PORTE
a!c -~~
Norman L. Malone, Mayor
ATTEST:
~ d rA#; W &J:u ~ fvu
Sue Lenes - - {
City Secretary
APt;;:zJ ~
Knox W. Askins
City Attorney