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HomeMy WebLinkAboutO-1983-1535 I,. .:: <" e .r- -~ tf9tl- AEr/~~ ~ V .\ '~~ V~~'~~"V V:e ",,\0..\ .. '1.'\ P" ff-: ~~ ~~' ~~~"U!l1'''' ~ . LA PORTE ORDINANCE (Rev. 11-82) ,- , ORDINANCE NO. 1395 TEXAS MU.NICIPAL RETIREMENT SYSTEM 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 IN THE EMPLOYMENT OF THE CITY OF LA PORTE; PROVIDING FOR INCREASED PRIOR AND CURRENT SER VICE ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED RETIREES OF THE CITY; ALLOWING CERTAIN EMPLOYEES OF THE CITY, WHO PERFORMED OR HEREAFTER PERFORM ACTIVE SERVICE IN THE ARMED FORCES (OR THEIR RESERVES OR AUXILIARIES) OF THE UNITED STATES UNDER HONORABLE CONDITIONS DURING PERIODS OF CONFLICT WITH FOREIGN FORCES, TO APPLY AND MAKE DEPOSITS FOR, AND TO RECEIVE SPECIAL CREDIT WITH THE TEXAS MUNICIPAL RETIREMENT SYSTEM FOR LIMITED POR- TIONS OF SUCH MILITARY SERVICE, AND PROVIDING FOR PAY- MENT BY THE CITY OF ADDITIONAL DEPOSITS TO THE SYSTEM ON ACCOUNT OF SUCH SERVICE CREDIT AND ESTABLISHING AN EFFECTIVE DATE FOR SUCH ACTIONS. . BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: Section 1. (a) On the terms and conditions set out in Sections 63.401 through 63.403 of Title 110B, Revised Civil Statutes of Texas, 1925, as amended, each member of the Texas Municipal Retirement System who has current service credit or prior service credit in said System in force and effect on the 1st day of January, I'9:K4, by reason of service in the employment of the City of La Porte, and on such date has at least 36 months of credited service with said system, shall be and is hereby allowed "Updated Service Credit" (as that term is defined in subsection (d) of Section 63.402 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' 63.402 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) In accordance wit,h the provisions of subsection (d) of Section 63.401 of said title, ' the deposits required to be made to the Texas Municipal Retirement System by employees of the several participating departments on account of current service shall be calculated from and after the date aforesaid on the full amount of such person's earnings as an employee of the City. " ' ' " . . ,- '-' LA PORTE ORDINANCE (cont.) Page 2 Section 2. . (a) On terms and conditions set out in Section 64.203 of Title 110B, Revised Civil Statutes of Texas, 1925, as amended, the City of La Porte hereby elects to allow and to provide for payment of the increases below stated in monthly benefits payable by the Texas Municipal Retirement 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 7096 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. , (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 Texas Municipal Retirement System. Section 3. Pursuant to Subchapter F of Chapter 63, Title llOB; Revised Civil Statues of Texas, as amended, the City of La Porte hereby elects to allow eligible members in its employment to establish credit in the Texas Municipal Retirement System for active military service performed as a member of the armed forces or armed forces reserves of the United States or an auxiliary of the armed forces or armed forces reserves, during a period in which the United States is or was involved in a state of conflict with foreign forces. Eligible . members as used herein shall be those employees meeting the criteria set forth in subsection (b) of Section 63.501 of said Subchapter F, and the amount and use of creditable military service shall be as further set forth in that Subchapter. ~ .. L'A PORTE ORDINANCE .t.) , , Page 3 . .' Section 4. In order to establish credit for military service hereunder, a member must deposit with the Texas Municipal Retirement System (in that member's individual account in the Employees Saving Fund), before the first anniversary of the effective date of this ordinance or before the first anniversary of the date the member becomes eligible to establish the credit (whichever is later) an amount equal to the number of months for which credit is sought, multiplied by $15.00, and the City must contribute an amount equal to the amount required of the member, multiplied by the City's current service matching percentage in effect on the date the member applies for credit hereunder. The City of La Porte agrees to pay into its account in the Municipality Accumulation Fund all sums which become due hereunder as a result of the gr~nting of such credit. Section .5. The rights, credits and benefits hereinabove authorized shall be in addition to the plan provisions heretofore adopted and in force at the effective date of this ordinance pursuant to the TMRS Act. , Section 6. This ordinance will become effective on the first day of January, 1984... Passed and approved this the 28th day of December , 19 83 ATTEST: APPROVED: (P~Ua-eb City Secretary or Clerk .