HomeMy WebLinkAboutOrdinance 1419
ORDINANCE NO. 1419
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING 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 NORTH RICHLAND
HILLS; AND ESTABLISHING AN EFFECTIVE DATE FOR SUCH ACTIONS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, 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 110B, Revised Civil Statutes of Texas, 1925, as amended, each
member of the Texas Municipal Retirement System who has current service credit
or prior service credit in said System in force and effect on the 1st day of
January, 1986, by reason of service in the employment of the City of North
Richland Hills, 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 Service
Credit, prior service credit, special prior service credit, or antecedent
service credit previously authorized for part of the same service.
(b) On the terms and conditions set out in Section 63.601 of said
title, any member of the Texas Municipal R~tirement System who is eligible for
Updated Service Credits on the basis of service with this City, and who has
unforfeited credit for prior service and/or current service with another
participating municipality or municipalities by reason of previous service.
and was a contributing member on January 1, 1986, shall be credited with
Updated Service Credits pursuant to, calculated in accordance with, and
subject to adjustment as set forth in said 63.601.
(c) In accordance 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 the several participating departments on
account of current 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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Page 2
Ordinance No. 1419
Section 2. Effective Date
Subject to approval by the Board of Trustees of Texas Municipal
Retirement System, the updated service credits granted hereby shall be and become
effective on the 1st day of January, 1987.
Passed and approved this the ~1--th day of
November
, 1986.
~&AA
Mayor
ATTEST:
J9~, ~arY
APPROVED AS TO FORM AND LEGALITY:
Rex MCEng~