HomeMy WebLinkAbout--0071_1980a
TMRS-F
(Model Ordinance)
DINA14CE PROVIDING FOR INCREASED
ANNUITY L
AN OR
CONTRIBUTIONS TO THE CURRENT TEXAS.
AT RETIREMENT OF THE EMPLOYEES OF THE
RESERVE CITY OF GEORGETOWN
BE IT ORDAINED BY THE CITY COUNCIIF GEORGETOWN TEXAS:
O
January 1, 19 73 , for each month of Current Service
That effective
b each of its employees who are members of the Texas
thereafter renderedY
S stem, the City will contribute to the current service
Municipal Retirementy
of each such member at the time of his retirement, a sum
annuity reserve osits for such
that is
2 00% of such member's accumulated dep
(150% or 20051)
month of employment; ent• and said sum shall be contributed from the City's
Municipality Current Service Accumulation Fund.
account in the
Passed and approved this the
day of 19
APPROVED:
ATTEST:
Mayor
City Secretary or Clerk
4vµ Ili,p4f'
?ig
A'
TMRS- I
(Model Ordinance, Combined
Antecedent Service and
Special Prior Service Credit).
AN ORDINANCE UNDERTAKING TO PROVIDE FOR, AND GRANTING
"ANTECEDENT SERVICE CREDIT" AND "SPECIAL PRIOR SERVICE
CREDIT" AT THE RATES HEREIN SPECIFIED, TO QUALIFYING
EMPLOYEES OF THE CITY OF GEORGETOWN , TEXAS
BE IT ORDAINED BY THE CITY COUNCIL OF GEORGETOWN
TEXAS:
Section 1.
Each person who is an employee of the City of _ Georgetown
on the 31st day of December, 19 72 (-')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 Sec. XVI of Article
6243h, Vernon's Texas Civil Statutes, as amended by Chapter 371, Acts
-Regular Session. 61st 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 one hundred
per cent(2) 0000 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 31st
day of — December 1972 . (3 )
Section 2.
Each person who is an employee of the City of Georgetown
on the 31st day of December, 19-7�(1)
and who at said date is a
member of the Texas Municipal Retirement System and who holds in
said System an effective prior service 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 Sec. XV of Article 6243h, Vernons
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
per cent (4) ( 5 %) of the member's "average
prior service compensation"
Page 2
TMRS-I
for the number of months of prior service certified to in such credit
memberThe special prior service
s prior service certificate. ,.,,
herein provided for shall be in addition to the prior service credit
heretofore allowed such member.
Any person who was employed by the City of Georgetown
(1) whose membership in Texas Muni -
prior to December 31, 19 72 ,
cipal Retirement System by reason of such service has not termi-
nated, and who on 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 years from the 31st day
of December, 19 ? ,(l)and provided such person thereupon continues
as an employee of a participating department of the city of
orcretown for a period of five (5) consecutive years.
Passed and approved this the day of ,.
19 .
ATTEST:
City Secretary or Clerk
APPROVED:
mayor
l This date will be the end of the calendar year in which the
ordin a is passed.
The council may choose to overmatch antecedent service
deposits either fifty per cent or one hundred per cent, and this blank
shoulcj a filled in to record the percentage selected.
13 As to cities which have theretofore undertaken overmatching
of current service deposits pursuant to Sec. XIV, this blank should
be filled in with the effective date of such undertaking. Other-
wise, this blank should be filled in with the same date as for note 1,
above
(4)The council is allowed to grant special prior service credits
calculated at either 2j%, or at 5% (but not over 5% on a cumulative
basis) of average prior service compensation. This blank should be
filled in to record the basis chosen by the council.
IS