ORD 1994-41 - TMRS Updated Service Credits 11-15-1994ORDINANCE NO. 94 -41
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, AUTHORIZING AND ALLOWING UNDER THE
ACT GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM,
"UPDATED SERVICE CREDITS" IN THE SYSTEM FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM WHO
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF
HUNTSVILLE; PROVIDING FOR INCREASED PRIOR AND CURRENT
SERVICE ANNUITIES FOR RETIREES AND BENEFICIARIES OF
DECEASED RETIREES OF THE CITY; AND ESTABLISHING AN
EF I ECTIVE DATE FOR SUCH ACTIONS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS,
that:
SECTION 1: Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 853.401 through 853.404 of Subtitle G
of Title 8, Government Code, as amended (hereinafter referred to as the "TMRS ACT "),
each member of the Texas Municipal Retirement System (hereinafter referred to as
"System ") who has current service credit or prior service credit in the System in force
and effect on the 1st day of January of the calendar year preceding such allowance, by
reason of service in the employment of the City of Huntsville (hereinafter called the
"City "), and on such date had at least 36 months of credited service with the System,
shall be and is hereby allowed "Updated Service Credit" (as that term is defined in
subsection (d) of Section 853.402 of that title in an amount that is 100% of the "base
Updated Service Credit" of the member (calculated as provided in subsection (c) of
Section 853.402 of that 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 853.601 of that title, any member of the
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 the 1st day of January of the calendar year preceding such
allowance, shall be credited with Updated Service Credits pursuant to, calculated in
accordance with, and subject to adjustment as set forth in Section 853.601.
(c) In accordance with the provisions of subsection (d) of Section 853.401 of that title, the
deposits required to be made to the 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.
SECTION 2: Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 854.203 of Subtitle G of Title 8, Government
Code, as amended, the City hereby elects to allow and to provide for payment of the
increases below stated in monthly benefits payable by the System to retired employees
and to beneficiaries of deceased employees of this City under current service annuities
and prior service annuities arising from service by such employees to this City. An
annuity increased under this Section replaces any annuity or increased annuity previously
granted to the same person.
(b) The amount of the annuity increase under this Section is computed as the sum of the
prior service and current service annuities on the effective date of retirement of the
person on whose service the annuities are based, multiplied by 70 % of the percentage
change in Consumer Price Index for All Urban Consumers, from December of the year
immediately preceding the effective date of the person's retirement to the December that
is 13 months before the effective date of this ordinance.
(c) An increase in an annuity that was reduced because of an option selection is reducible
in the same proportion and in the same manner that the original annuity was reduced.
(d) If a computation hereunder does not result in an increase in the amount of an annuity,
the amount of the annuity will not be changed hereby.
(e) The amount by which an increase under this Section exceeds all previously granted
increases to an annuitant is an obligation of this City and of its account in the
municipality accumulation fund of the system.
SECTION 3: Effective Date.
Subject to approval by the Board of Trustees of Texas Municipal Retirement System, the updated
service credits and increases in retirement annuities granted hereby shall be and become effective
on the first date January, 1995.
PASSED AND APPROVED this the 15th day of November, 1994.
THE CITY OF HUNTSVILLE
ATTEST:
Danna Welter, City Secretary
APPROVED:
Scott Bounds, City Attorney