HomeMy WebLinkAboutCity Council Resolutions (RESOLUTION R-16-4021)-08/18/2016RESOLUTION R-16-4021
A RESOLUTION RELATING TO THE TEXAS MUNICIPAL RETIREMENT
SYSTEM; SUPPORTING ADDITIONAL FLEXIBILITY OR ALTERNATIVES
IN REGARD TO COST OF LIVING AD]USTMENTS FOR RETIREES
WHEREAS, local governments are subject to increasing economic stresses
as they struggle to provide important municipal services while
balancing their budgets with increasingly less money; and
WHEREAS, cities wish to support the dedicated public employees and
retirees who have worked many years to serve the citizens of
these cities; and
WHEREAS, most Texas cities are members of the Texas Municipal
Retirement System (TMRS); and
WHEREAS, current TMRS requirements provide that a City granting a cost
of living adjustment (COLA) on a repeating basis must provide
for that adjustment regularly, and that a City that opted out of
such repeating COLAs is required to include all prior years in
which the cost of living adjustment was not made before they
can start a repeating COLA again (the "catch up" provision); and
WHEREAS, if a City was forced to cease the annual repeating COLA for
economic reasons, the'�catch-up" provisions are very difficult, if
not impossible, to meet; and
WHEREAS, the Texas Municipal Retirement System has been better
managed and funded than many other retirement systems and
cities support the prudent fiscal management of the system; and
WHEREAS, cities also wish to maintain sound fiscal policies and the ability
to provide an increase for retirees must be managed within the
frarriework of sound fiscal policies; and
WHEREAS, several cities which were forced to stop the repeating COLA in
recent years, including the City of Colleyville, desire to start the
repeating COLA, but cannot do so under the required ��catch-up"
provisions; and
WHEREAS, many cities request that alternatives, which would benefit thel
cities, their employees, and their retirees, to the current system
be made through the passage of legislation where needed,
Resolution R-16-4021
Page 2 of 2
including alternatives such as forgiveness provision for cities
who stopped the regular repeating COLA payments prior to
2012, or the ability to make periodic percentage increases to
retiree pension payments without reference to a cost of living
index.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT the Colleyville City Council requests that the State
Legislature amend the affected provisions of the Texas
Government Code to allow for greater flexibility in retiree pension
increases and provide for a forgiveness provision for cities who
stopped the regular repeating COLA payments without reference
to a cost of living index.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF � AYES, b NAYS, AND e ABSTENTIONS ON
THIS THE 16T" DAY OF AUGUST 2016.
Mayor Richard Newton � Mayor Pro Tem Chris Putnam ��-
Place 1, Tammy Nakamura �.� Place 5, Nancy Coplen ��,
Place 2, Bobby Lindamood �ti Place 6, Mike Taylor �.e.
Place 4, Jody Short �
ATTEST:
Amy helley, MC
City Secretary
CITY OF COLLEYVILLE
��t,�,e�-----
Richard Newton
Mayor