Loading...
1982-078AN ORDINANCE AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM, GRANTING THE ADDITIONAL RIGHTS, CREDITS AND BENEFITS AUTHORIZED BY SECTIONS 62 ln~ AND 64 202 OF TITLE ll0B, REVISED CIVIL STATUTES OF TEXAS, 102g, AS AMENDED, PROVIDING THAT SUCH RIGHTS SHALL BE SUPPLEMFNTARY TO THOSE HERETOFORE ALLOWED AND THAT ARE IN FORCE ON THE EFFECTIVE DATE OF THIS ORDINANCE, AND PRESCRIBING THE EFFECTIVE DATE OF THIS ORDINANCE THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS SECTION I Pursuant to the prowslons of Sections 62 10~ and 64 202 of Subtitle G of Title ll0B, Rewsed Civil Statutes of Texas, 1~2~, as amended, which Subtitle shall herein be referred to as the "TMRS Act", the C~ty of Denton, Texas, adopts the followln¢ provisions affecting participation of 1ts employees ~n the Texas Municipal Retirement System (a) Each person who becomes an employee of any part~c~patlng department of this City and who is not already a member of the Texas Municipal Retirement System shall become a member of the System as a condition of employment, provided such person then under sixty (60) years of age, (b) Any member, after one (1) year from the effective date of h~s or her membership in the System, shall be ellRlble for service retirement if he or she has attalned the age of fifty (S0) years and has completed twenty-five (7~) years of creditable service with one or more mun~clpalltles that have authorized el~g~blllty under Section 64 202 of the TMRS Act or under Section XX of former Article 6243h, Vernon's Texas C~vll Statutes, or ~f he or she has attained the age of sixty years and has completed at least ten (10) years of creditable service with one or more munlclpallt~es that have authorized eligibility under Section 64 702 of the TMRS Act or under Section XX of said former Article 624~h, (c) The membership of any person who has completed at least ten (10) years of creditable serwce w~th participating municipalities that have authorized eligibility under ~ect~on 64 20? of the TMRS Act (or under Section XX of sa~d former Article 6243h) shall not terminate because of absence from service, and (d) Any person who ~s an employee of a participating department of th~s municipality at the effective date of tb~s ordinance, but who at the date of h~s or bet employment was under s~xty (60) years of are but d~d not become a member of Texas Municipal Retirement System because he or she was then above the maximum age then prescribed by law for ~n~t~al membership ~n the System, shall become a member of the System at the effective date of th~s ordinance, unless he or she bas already become a member under other prows~ons of the governing Act, and shall be allowed prior serwce credit for each month of creditable serwce performed for th~s municipality subsequent to the date such person was precluded from membership and ~r~or to the effective date of h~s or her membership Such prior serwce credit shall be calculated using the same percentage of base prior serwce credit as was most recently used ~n calculating prior serwce credits or updated serwce credits ~n sa~d System for current member employees of th~s C~ty SECTION II The rights, credits and benefits here~nabove authorized shall be ~n addition to the plan prows~ons heretofore adopted and ~n force at the effective date of tb~s ordinance pursuant to the TMRS Act SECTION III This ordinance shall become effective on the first day of October, 1982, prowded that ~t has prewously been determined by the Actuary for the System that all obligations of the C~tv to the municipality accumulation fund, ~nclud~n~ obligations PAG~ 2 hereby undertaken, can be funded by the C~ty within its maximum contribution rate and w~th~n ~ts amortization per¢od PASSED MD APPROVED th~s the 28th day of September, 1087 ~fIC~A'RD O~STEWAR~ MAYOR V/ ~IT~ OF D~NTON, TEXAS ' ATTEST CHTtRLOTTE ALLEN,v CITY SECRETARY CITY OF DENTON, TEXAS APPROVED AS TO LEGAL FORM C J TAYLOR, JR , CITY ATTORNEY CITY OF DENTON, TEXAS PAGE