1981-109 AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING THE
TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED SERVICF CREDITS" IN
SAID SYSTEM FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF SUCH
SYSTEM 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 CITY 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 Title ll0B, Revised Civil Statutes of Texas, as
amended, each member of the Texas Municipal Retirement System who
has current service credit or prior service credit in said System
~n force and effect on the 1st day of January, 1981, by reason of
service in the employment of the City of Denton, and on such date
had 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 wlth the provisions of subsection d of
Section 63 401 of sa~d T~tle ll0B, 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 monthly earnings as an employee of the
City
SECTION II INCREASE IN RETIREMENT ANNUITIES
(a) On the terms and conditions set out ~n Section 64 203 of
Title ll0B, Revised Civil Statutes of Texas, as amended, the City
of Denton hereby elects to allow and to provide for payment of the
increases below stated in monthly benefits payable by the Texas
Munlc~pal Retirement System to retired employees and to
beneficiaries of deceased employees of th~s C~ty 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 70% 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 ~n 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 thls City and of its account in the municipality
accumulation fund of the Texas Municipal Retirement System
SECTION III EFFECTIVE DATE
Subject to approval by the Board of Trustees of Texas
Municipal Retirement System, the updated service credits and
increases in retirement annuities granted hereby shall be and
become effective on the 1st day of January, 1982
PASSED AND APPROVED this the /~'-?~day of December, 1981
7 S EW , n , Yom4/
CIT~ OF D~NTON, TEXAS
ATTEST
, CITY SECRETARY
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
C J TAYLOR, JR , CITY ATTORNEY