HomeMy WebLinkAboutOrdinance 1496
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ORDINANCE NO. 1496
AN ORDINANCE AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS
MUNICIPAL RETIREMENTS SYSTEM; GRANTING THE ADDITIONAL RIGHTS, CREDITS AND
BENEFITS AUTHORIZED BY SECTIONS 64.202(f), 64.204, 64.405, 64.406 AND
64.410 OF TITLE 110B, REVISED CIVIL STATUTES OF TEXAS, 1925, AS AMENDED BY
THE 70TH LEGISLATURE; AND PRESCRIBING THE EFFECTIVE DATE OF THIS ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF NORTH RICHLAND HILLS, TEXAS:
Section 1. Pursuant to the provisions of Sections 64.202(f), 64.204,
64.405, 64.406, and 64.410 of Subtitle G of Title 1l0B, Revised Civil
Statutes of Texas, 1925, as amended by the 70th Legislature of the State of
Texas, Regular Session, which Subtitle shall herein be referred to as the
"TMRS Act,", the City of North Richland Hills, Texas, adopts the following
provisions affecting participation of its employees in the Texas Municipal
Retirement System (which retirement system shall herein be referred to as
the "System"):
(a) Any employee of this City who is a member of the System is
eligible to retire and receive a service retirement annuity, if the member
has at least 25 years of credited service in that System performed for one
or more municipalities that have participation dates after September 1,
1987, or have adopted a like provision under Section 64.202(f) of the TMRS
Act.
(b) If a "vested member," as that term is defined in Section
64.204(b) of the TMRS Act, shall die before becoming eligible for service
retirement and leaves surviving a lawful spouse whom the member has
designated as beneficiary entitled to payment of the member's accumulated
contributions in event of the member's death before retirement, the
surviving spouse may by written notice filed with the System elect to leave
the accumulated deposits on deposit with the System subject to the terms
and conditions of said Section 64.204(b). If the accumulated deposits have
not been withdrawn before such time as the member, if living, would have
become entitled to service retirement, the surviving spouse may elect to
receive, in lieu of the accumulated deposits, an annuity payable monthly
thereafter during the lifetime of the surviving spouse in such amount as
would have been payable had the member lived and retired at that date under
a joint and surviving annuity (Option 1) payable during the lifetime of the
member and continuing thereafter during the lifetime of the surviving
spouse.
(c) At any time before payment of the first monthly benefit of an
annuity, a surviving spouse to whom subsection (b) applies may, upon
written application filed with the System, receive payment of the
accumulated contributions standing to the account of the member in lieu of
any benefits otherwise payable under this section. In the event such a
surviving spouse shall die before payment of the first monthly benefit of
an annuity allowed under this section, the accumulated contributions
credited to the account of the member shall be paid to the estate of such
spouse.
(d) The rights, credits and benefits hereinabove authorized shall be
in addition to the plan provisions heretofore adopted and in force at the
effective date of this ordinance pursuant to the TMRS Act.
(e) Any employee of this City who is a member of the System is
eligible to retire and receive a "standard occupational disability annuity"
under Section 64.408 of the TMRS Act or an "optional occupational
disability retirement annuity under Section 64.410 of the TMRS Act upon
making application therefor upon such form and in such manner as may be
prescribed by the Board of Trustees of the System, provided that the
System's medical board has certified to said Board of Trustees: (1) that
the member is physically or mentally disabled for further performance of
the duties of the member's employment; (2) that the disability is likely to
be permanent; and (3) that the member should be retired. Any annuity
granted under this subsection shall be subject to the provisions of Section
64.409 of the TMRS Act.
(f) The provlslons relating to the occupational disability program as
set forth in section (e) above are in lieu of the disability program
heretofore provided for under Sections 64.301 to 64.308 of the TMRS Act.
Section 2. This ordinance shall become effective on the first day of
January, 1988, provided that it has previously been determined by the
Actuary for the System that all obligations of the City to the municipality
accumulation fund, including obligations hereby undertaken, can be funded
by the City within its maximum contribution rate and within its
amortization period.
Passed and approved this the 28th day of
September
19 87.
ATTEST:
APPROVED:
Ch~~~
f1 City Secretary or Clerk
APPROVED AS TO FORM AND LEGALITY:
~cJL
Mayor