1997-316 O INANCE NO q 7 /
AN ORI~INANCE AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS
MUNICIPAL RETIREMENT SYSTEM GRANTING THE ADDITIONAL RIGHTS
AUTHORIZED BY SECTION 854 202(g) OF TITLE 8, TEXAS GOVERNMENT CODE, AS
AMENDED, AND AUTHORIZING AN EFFECTIVE DATE,
WHEREAS, in accordance with SecUon 854 202(g) of the Texas Government Code, the
City Manager has prepared, at the chrecUon of the City Council, an actuarial analysis of City
employees who are members of the City's public retirement system annmtleS at twenty years of
service, and
WHEREAS, prior to the adoption of this ordinance, the City Council held a public
hearing on the adoption of Section 854 202(g) of the Texas Government Code allowing members
of the City's public retirement system who have at least twenty years of credited service to retire,
and the public hearing was held in compliance with the notice provisions of the Texas Open
Meetings Act, chapter 551, Texas Government Code, and
WHEREAS, the City Council deems it m the public interest to adopt the provisions of
Section 854 202(g) of the Texas Government Code, NOW, THEREFORE,
THE cOLrNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS
SECTION I That pursuant to the provisions of Section 854 202(g) of Subtitle G of Title
8, Texas,Government Code, as amended, winch Subtitle shall herein be referred to as the "TMRS
Act," the City of Denton, Texas adopts the following provisions affecting partlcipauon of its
employe~s in'the Texas Mumclpal ReUrement System (herein referred to as the "System")
(a) Any employee of the City who is a member of the system is eligible to reUre and
receive a service retirement annmty if the member has at least 20 years of credited service in the
System performed for one or more mumclpahtles that have adopted a like provision under
Section 854 202(11) of the TMRS Act
(b) Prior to adopUng this ordinance, the governing body of the City has (1) prepared
an actuarial analysis of member retirement armmtles at 20 years of service, and (2) held a public
hearing pursuant to the notice provisions of the Texas Open Meetings Act, chapter 551, Texas
Govemmant Code
(c) The rights herelnabove authorized shall be in addition to the plan provisions
heretofore adopted and In force at the effective date of tins ordinance pursuant to the TMRS Act
~ECTION II That tins ordinance shall become effective January 1, 1998
JENNIFER WALTERS, CITY SECRETARY
HERBERT L PROUTY, CITY ATTORNEY
E \DOCS\ORD~20-YEAR RETIREMENT OPTION
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