HomeMy WebLinkAboutO-1974-1004
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ORDINANCE NO. 1004
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AN ORDINANCE TO PROVIDE FOR INCREASED MUNICIPAL CONTRIBUTIONS
TO THE CURRENT SERVICE ANNUITY RESERVE AT RETIREMENT OF THE
EMPLOYEES OF THE CITY OF LA PORTE; PROVIDING FOR, AND GRANTING
"ANTECEDENT SERVICE CREDIT" AND "SPECIAL PRIOR SERVICE CREDIT"
AT THE RATES SPECIFIED, TO QUALIFYING EMPLOYEES OF THE CITY
OF LA PORTE; AND PROVIDING AN EFFECTIVE DATE HEREOF.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE:
Section 1. That effective January 1, 1975, for each
month of current service thereafter rendered by each of its
employees who are members of the Texas Municipal Retirement
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System, the City of La Porte will contribute to the current
service annuity reserve of each such member at the time of
his retirement, a sum that is 200% of such member's accumulated
deposits for such month of employment; and said sum shall be
contributed from the City's account in the Municipality
Current Accumulation Fund.
Section 2. Each person who is an employee of the City
of La Porte on the 31st day of December, 1974, and who is
at that date a member of the Texas Municipal Retirement
System shall be allowed, and, upon the terms and conditions
prescribed by Section XVI of Article 6243H, Vernon's Texas
. Civil Statutes, as amended by Chapter 371, Acts Regular
Session, 6lst Legislature, is hereby granted, effective on
the date last above mentioned, "antecedent service credit"
(as that term is defined in said Act) calculated on the basis
of 100% of each current service deposit actually made by such
person with the Texas Municipal Retirement System during each
month of current service performed for this City prior to the
1st day of January, 1975.
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Ordinance No.
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1004
. Section 3. Each person who is an employee of the City
of La Porte on the 31st day of December, 1974, and ~o at
said date is a member of the Texas Municipal Retirement
System and who holds in said System an effective prior service
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certificate granted by reason of service performed for this
City prior to its participation in said System, shall be
allowed and is hereby granted (upon the terms and conditions
prescribed by Section XV of Article 6243H, Vernon's Texas
Civil Statutes as amended by Chapter 371, Acts of the Regular
Session, 61st Legislature) a "Special Prior Service Credit"
in an amount equivalent to the accumulation at interest, as
provided in said Act, of a series of monthly payments of
five percent (5%) of the members "average prior service
compensation" for the number of months of prior service
certified to in such member's prior service certificate. The
special prior service credit herein provided for shall be in
addition to the prior service credit heretofore allowed such
member.
Section 4. Any person who was employed by the City of
La Porte prior to December 31, 1974, whose membership in Texas
Municipal Retirement System by reason of service has not
terminated, and who OR said date is absent from service in the
employment of the City, shall be entitled to antecedent service
credit and to special prior service credit in the amount (if any)
he would have been allowed under Sections 1 and 2 hereof had he
been in active service on said date, provided such person again
becomes an employee of the City before termination of his said
membership in Texas Municipal Retirement System and within five
(5) years from the 31st day of December, 1974, and provided
such person thereupon continues as an employee of a participating
department of the City of La Porte for a period of five (5)
consecu~ive years.
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Ordinance No. 1004
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Section 5. New benefits are to become effective January 1,
1975.
Section 6. This ordinance shall be effective immediately
upon its passage and approval.
PASSED AND APPROVED this the 4th day of September, 1974.
CITY OF LA PORTE
Byl/~~
E. A. homa~. - ayor
ATTEST:
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CJ.ty erk
APPROVED. ~
f3:;;x ttl .
C1ty Attorney