HomeMy WebLinkAboutOrdinances (O-95-1006)-11/08/1995
ORDINANCE 0-95-1006
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.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Authorization of Restricted Prior Service Credit.
(a) On the terms and conditions set out in Section 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) 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) 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.
This ordinance shall become effective on the first day of December, 1995.
AND IT IS SO ORDERED
The first reading and public hearing being conducted on the ~d day
of l2eJo h~r 1995.
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Ordinance 0-95-1006
Page 2 of 2
The second reading and public hearing being conducted on the /7 ~ day
of () e fJLh tJ 1995.
The third reading and public hearing being conducted on the g~ day
of A1oulMb~~ 1995. TABLED AT THIRD READING. NOT FORWARDED TO
ANY FUTURE AGENDA.
/
Jean Harris, CMC
City Secretary
Ed Baker
Mayor
TO FORM AND LEGALITY:
Ross T. Foster
City Attorney