1983-130 NO.
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
DENTON, PROVIDING FOR INCREASED PRIOR AND CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED RETIREES OF
THE CITY, AND ESTABLISHING AN EFFECTIVE DATE FOR SUCH ACTIONS
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS
SECTION I
Authorization of Updated Service Credits
(a) On the terms and conditions set out in Sections 63 401
through 63 403 of T~tle ll0B, 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
sa~d System 1n force and effect on the 1st day of January, 1984,
by reason of service in the employment of the C~ty of Denton,
and on such date has at least 36 months of credited service wlth
said system, shall be and ~s hereby allowed "Updated Service
Credit" (as that term ls defined ~n subsection (d) of Section
63 402 of sa~d title) an an amount that ls 100% of the "base
updated Service Credlt" of the member (calculated as provided ~n
subsection (c) of Section 63 402 of said title) The Updated
Service Credit hereby allowed shall replace any Updated Service
Credit, prlor service credit, special prior service credit, or
antecedent service credit previously authorized for part of the
same service
(b) In accordance with the provisions of subsection (a) of
Sectlon 63 401 of said t~tle, the deposlts required to be made
to the Texas Municipal Retirement System by employees of the
several partlclpat~ng departments on account of current servlce
shall be calculated from and after the date aforesaid on the
full amount of such person's earnings as an employee of the C~ty
PAGE ONE
SECTION II
Increase in Retirement Annuities
(a) On terms and conditions set out ~n Section 64 203 of
T~tle ll0B, Revised C~v~l Statutes of Texas, 1925, as amended,
the C~ty of Denton hereby elects to allow and to provide for
payment of the ~ncreases below stated ~n monthly benefits
payable by the Texas Municipal Retirement System to retlred
employees and to beneficiaries of deceased employees of th~s
City under current servlce annu~tles and prior service annuities
arlslng from service by such employees to th~s Clty An annuity
· ncreased under th~s Section replaces any annuity or increased
annuity previously granted to the same person
(b) The amount of annuity ~ncrease under th~s Section ~s
computed as the sum of the prior and current service annuities
on the effective date of retlrement of the person on whose
service the annuities are based, multiplied by 70% of the
percentage change ~n Consumer Price Index for All Urban
Consumers, from December of the year ~mmed~ately preceding the
effective date of the person's retirement to the December that
~s 13 months before the effective date of th~s ordinance
(c) An ~ncrease in an annuity that was reduced because of
an option selectlon ~s reduo~ble ~n the same proportion and ~n
the same manner that the original annuity was reduced
(d) If a computatlon hereunder does not result in an
lncrease ~n the amount of an annuity, the amount of the annuity
will not be changed hereby
(e) The amount by which an lncrease under this Sectlon
exceeds all previously granted ~ncreases to an annuitant ~s an
obligation of this C~ty and of ~ts account In the municipality
accumulation fund of the Texas Municipal Retirement System
PAGE TWO
SECTION III
5ffectlve Date
Subject to approval by the Board of Trustees of Texas
Municipal Retirement System, the updatea service credits and
increases in retirement annuities granted hereby shall be and
become effective on the 1st aay of January, 1984
PASSED AND APPROVED this the /~ay of
1983
i CH~RD 0 ~TEWART~, MAYOR
TY~OF DENTON, TEXAS
ATTEST
CHARIJOTTE '~LLEN, C/TY SECRETARY
APPROVED AS TO LEGAL FORM
C J TAYLOR, JR , CITY ATTORNEY
CITY OF DENTON, TEXAS
PAGE THREE
HERE PASTE THE NOTI( E BY ~ ,h N,,
PUBLICATION CUT FROM PAPER
IN THE MATTER OF THE
AFFIDAVIT OF PUBLISHER TO
PUBLICATION OF LEGAL NOTICE
F;h d th~ day
Bv Deputv