HomeMy WebLinkAboutOrdinances (O-97-1079)-09/02/1997
ORDINANCE 0-97-1079
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING THE
TEXAS MUNICIPAL RETIREMENT SYSTEM, RESTRICTED PRIOR SERVICE CREDIT
TO EMPLOYEES WHO ARE MEMBERS OF THE SYSTEM FOR SERVICE PREVIOUSLY
PERFORMED FOR VARIOUS OTHER PUBLIC ENTITIES FOR WHICH THEY HAVE
NOT RECEIVED CREDITED SERVICE; AND ESTABLISHING AN EFFECTIVE DATE
FOR THE ORDINANCE
WHEREAS, employees of the City are members of the Texas Municipal Retirement
System (TMRS); and
WHEREAS, the City Council has the authority to adopt plan options as part of the annual
budget process;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS;
Sec. 1.
THAT the option of providing Restricted Prior Service Credit to city
employees is authorized as follows:
a. THAT on the term and conditions set out in Sections 853.305 of
Subtitle G of Title 8, Texas Government Code, as amended
(hereinafter referred to as the "TMRS Act"), each member of the
Texas Municipal Retirement System (hereinafter referred to as the
"System") who is now or who hereafter becomes an employee of this
City shall receive restricted prior service credit for service previously
performed as an employee of any of the entities described in said
Section 853.305 provided that (1) the person does not otherwise have
credited service in the System for that service and (2) the service
meets the requirements of said Section 853.305.
b. THAT the service credit hereby granted may be used only to satisfy
length-of-service requirements for retirement eligibility, has no
monetary value in computing the annuity payments allowable to the
member, and may not be used in other computations, including
computation of Updated Service Credits.
c. THAT a member seeking to establish restricted prior service credit
under this ordinance must take the action required under Section
853.305 while still an employee of this City.
Sec. 2.
THAT this ordinance shall become effective on the 1st day of October, 1997.
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Ordinance 0-97-1079
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i AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the 1.1!!day of /tlJ.jU.5f
1997.
The second reading and public hearing being conducted on the 2~day okc;,~+"nbf1" ,
I 1997.
i, ATTEST:
CITY OF COLLEYVILLE
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I 'I' J an Harris, CMC
I City Secretary
II APPROVED AS TO FORM AND LEGALITY:
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Ross T. Foster
I City Attorney
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Richard Newton
Mayor