HomeMy WebLinkAboutOrdinances (O-79-334)-08/28/1979
ORDINANCE 0-79-334
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AN ORDINANCE PROVIDING FOR PARTICIPATION IN THE TEXAS MUNICIPAL
RETIREMENT SYSTEM BY THE CITY OF COLLEYVILLE, TEXAS.
WHEREAS, Chapter 75, Acts of the Regular Session, 50th Legislature (Article 6243H,
Vernon's Texas Civil Statutes) as amended, (hereinafter referred to as the
"TMRS Act") established the Texas Municipal Retirement System, and authorizes
the governing body of each city and town to elect, at its option, to have
one or more of the City departments participate in such System and,
WHEREAS, the governing body of the City of Colleyville, Texas, finds that it wil I be
in the publ ic interest for the City to have its employees participate in
the Texas Municipal Retirement System as hereinafter provided;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF COLLEYVILLE, TEXAS:
Section 1. The City Council of the City of Colleyville, Texas, on behalf of said
City hereby exercises its option and elects to have the City and all of
the employees of all departments now existing and those hereafter created
participate in the Texas Municipal Retirement System as provided in the
TMRS Act, and all of the benefits and obI igations of such System are
hereby accepted as to such employees.
Section 2. The City Manager is hereby directed to notify the Board of Trustees of
the Texas Municipal Retirement System that the City of Colleyville, Texas,
has elected to participate and have the employees of the City covered in
said System.
Section 3. Each person who becomes an employee of any participating department on
or after the effective date of participation of such department shall
become a member of the Texas Municipal Retirement System as a condition
of his employment.
Section 4. In accordance with the provIsions of the Statute, the deposits to be
made to the Texas Municipal Retirement System on account of current service
of the employees of the several participating departments are hereby fixed
at the rate of FIVE percent (5%) of the full earnings of each employee of
said departments.
Section 5. Each employee who qual ifies for such credit shall be allowed "Prior Service
Creditl' (as defined in Subsection 6(b) of Section VI of the TMRS Act) at
the rate of ONE HUNDRED percent (100%) of the "Base Prior Service Credit" of
such member, calculated in the manner prescribed in said Act.
Section 6. For each month of Current Service rendered to this City by each of its
employees who are members of Texas Municipal Retirement System, the City
will contribute to the current service annuity reserve of each such member
at the time of his retirement, a sum that is 150% of such member's accumu-
lated deposits for such month of employment; and said sum shall be contri-
buted from the City's account in the Municipal ity Current Service Accumula-
tion Fund.
Section 7. The City Sec~etary is hereby directed to remit to the Board of Trustees of
the Texas Municipal Retirement System, at its office in Austin, Texas, the
Ordinance 0-79-334
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PARTICIPATION
City's contributions to the System and the amounts which shall be deducted
from the compensation or payroll of employees, all as required by said
Board under the provisions of the TMRS Act, and the said official is
hereby authorized and directed to ascertain and certify officially on
behalf of the City of Colleyville, Texas, the prior service rendered to
the said municipality by each of the employees of the participating
departments, and the average prior service compensation received by each,
and to make and execute all prior service certifications and all other
reports and certifications which may be required of the City of Colleyville,
Texas, the prior service rendered to the said municipality by each of the
employees of the participating departments, and the average prior service
compensation received by each, and to make and execute all prior service
certifications and all other reports and certifications which may be
required of the City of Col leyville, Texas, under the provisions of the
TMRS Act, or in compl iance with the rules and regulations of the Board of
Trustees of the Texas Municipal Retirement System.
Section 8. Participation of the above mentioned employees in the Texas Municipal
Retirement System shall become effective on October 1, 1979.
PASSED, APPROVED, AND .ADOPTED b(the c:;;;-counci 1 of'
Texas, th i s the ~day of . ,~.q. , 1979, by
vote of ..s- t~.
ColI eyv i 11 e ,
the following
The first Reading and Public Hearing being conducted on the 17th
day of J u 1 y , 1979.
The second Reading and Public Hearing being conducted on the 7th
day of Augus t , 1979.
The third Reading and Publ ic Hearing being conducted on the 2'1'
day of AUCJust , 1979.
APPROVED:
Butf~/l~~
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LaVada ~Iohnson
City Secretary
APPROVED AS TO
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LEGAL ITY:
City Attorney
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