HomeMy WebLinkAboutOrdinance No. 84-26 . .� , , F`vµ -;��N� �_.. �. - TMRS-C/A
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TEXAS MUNICIPAL RETIREMENT SYSTEM
ORDINANCE 84-26
AN ORDINANCE AUTHORIZING AND ALLOWING,
UNDER THE ACT GOYERNING THE TEXAS MUNICIPAL
RETIREMENT SYSTEM, "UPDATED SERVICE CREDITS"
IN SAID SYSTEM FOR SERVICE PERFORMED BY
QUALIFYING MEMBERS OF SUCH SYSTEM WHO
- - PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY
OF FRIENDSWOOD; A{VD ESTABLISHING AN EFFECTIVE
DATE FOR SUCH ACTIONS.
1�E IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSR/OOD, TEXAS:
Section 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63.401 through 63.403 of Title 1108,
t2evised Civil Statutes of Texas, 1925, as amended, each member of the Texas Municipal
12etirement System who has current service credit or prior service credit in said System in
force and effect on the lst day of �anuary, 1985, by reason of service in the employment of
the City of Friendswood, and on such date has at least 36 months of credited service with
said system, shall be and is hereby allowed "Updated Service Credit" (as that term is defined
in subsection (d) of Section 63.402 of said title) in an 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
tiervice Credit, prior service credit, special prior service credit, or antecedent service credit
E�reviously authorized for part of the same service.
(b) In accordance I with the provisions of subsection (d) of Section 63.401 of said title,
the deposits required to be made to the Texas Municipal Retirement System by employees of
�he several participating departments on account of current service shall be calculated from
.���d after the date aforesaid on the full amount of such person's earnings as an employee of
:11e City.
Section 2. Effective Date. Subject to approval by the Board of Trustees of the Texas
tunicipal Retirement System, the updated service credits granted hereby shall be and
c:ome effective on the lst day of �anuary, 1985. _
�>�E.D AND APPROVED on first reading this the / 7T"�.J day of ��c�i4�
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� .,.�:�Lll AND APPROVED an second reading this the _��'�J day of ����j�q/�
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:';SSED, APPROVED AND ADOPTED on third and final reading this 21st day of Janzuary,
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