ORD 1993-37 - TMRS - Updated Service Credits 11-09-1993ORDINANCE NO. 93 -37
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 ON AN ANNUAL
BASIS FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF
SUCH SYSTEM WHO AT THE EFFECTIVE DATE OF THE
ALLOWANCE 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
EFFECTIVE DATE FOR THE ORDINANCE.
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, V.T.C.A., 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 the TMRS Act).
(b) On the terms and conditions set out in Section 853.601 of the TMRS Act, any member
of the System who is eligible for Updated Service Credits on the basis of service with
this City, 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
contribution member on January 1, 1993, shall be credited with Updated Service Credits
pursuant to, calculated in accordance with, and subject to adjustment as set forth in
Section 853.601, both as to the initial grant hereunder and all future grants under this
ordinance.
(c) The Updated Service Credit hereby allowed and provided for shall be 100 % of the "base
Updated Service Credit" of the member (calculated as provided in subsection (c) of
Section 853.402 of the TMRS Act).
(d) Each Updated Service Credit allowed hereunder 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.
(e) In accordance with the provisions of subsection (d) of Section 853.401 of the TMRS Act,
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 effective
date of this ordinance on the full amount of such person's compensation as an employee
of the City.
SECTION 2: Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 854.203 of the TMRS Act, 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 the City under current service annuities and prior service annuities arising
from service by such employees of the City. An annuity increased under this Section
replaces any annuity or increased 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 of 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 Section.
(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 hereunder.
(e) The amount by which an increase under this Section exceeds all previously granted
increases to an annuitant is an obligation of the City and of its account in the
municipality accumulation fund of the system.
SECTION 3: Dates of Allowances and Increases.
The initial allowance of Updated Service Credit and increase in retirement annuities hereunder
shall be effective on January 1, 1993, subject to approval by the Board of Trustees of the
System.
SECTION 4: Effective Date.
Subject to approval by the Board of Trustees of the System, this ordinance shall be and become
effective on the 1st day of January 1994.
PASSED AND APPROVED this the 9th day of November, 1993.
THE CITY OF HUNTSVILLE
ATTEST:
Danna Welter, City Secretary
APPROVED AS TO FORM:
Scott Bounds, City Attorney
W. H. Hodges, Mayor