HomeMy WebLinkAboutOrdinances (O-81-431)-01/05/1981
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ORDINANCE NO. 0.81-431
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AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXASlltUNICIPAL RETIREMENT SYSTEM, "UP_
DATED SERVICE CREDITS" IN SAID SYSTEM FOR SERVICE PER-
FORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM IN THE
EMPLOYMENT OF THE CITY OF COLLEYVILLE , AND
ESTABLISHING AN EFFECTIVE DATE FOR SUCH ACTIONS,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE , TEXAS:
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Sect'on1. Authorization of Updated Service Credits.
(a). On the terms and conditions set out in Sections 63.401 thr04gh
9 63.403 of Title 110B, Revised Civil Statutes of Texas, as amended, each member
of the Texas Municipal Retirement System who has current service credit or
10 prior service credit in said System in force and effect on the 1st day of,
January,19 82, by reason of service in the employment of the City of
Colleyville-- , and on such date has at least .36 months of credited service
11 with said System.. shall be and is hereby allowed "Updated Service, Credit/l(as
that term is defined in subsection d of Section 63.402 of said title) in an
12 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
13 Credit, prior service credit, special prior service credit, or antecedent
service credit previously authorized for part of the same service.
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(b). In accordance with the provisions of subsection d of Section
15 63.401 of said Title 110B, the deposits required to be made to the Texas
Municipal Retirement System by employees of the several participating
departments on account service shall be calculated from and after the date
aforesaid on the full amount of such person's earnings as an employee of the
City.
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Section 2. Effective Date. Subject to approval by the Board of
Trustees of the Texas Municipal Retirement System, the updated credits granted
hereby shall be and become effective on the ~ day of January,19 82.
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AND IT IS SO ORDERED.
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hearing being conducted on
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CITY OF COLLEYVILLE
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