O42
CITY OF KENNEDALE
ORDINANCE NO. 42
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED
SERVICE CREDITS" IN SAID 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 KENNEDALE; AND ESTABLISHING AN
EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE CITY OOUNCIL OF THE CITY OF KENNEDALE, TEXAS:
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., Goverrnient Code, as amended, (hereinafter
referred to as the "TMRS Act"), each member of the Texas Municipal Retirement
System (hereinafter referred to as the "System") who has current service credit
or prior service cred i t i n the System i n force and effect on the 1 st day of
January of the calendar year preceding such allowance, by reason of service in
the employment of the City of Kennedale (hereinafter called the "City") and on
such date that 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 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 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 said 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) The initial allowance of Updated Service Credit hereunder shall be
effective on January 1, 1994, subject to approval by the Board of Trustees of the
System. An allowance shall be made hereunder on January 1, of each subsequent
year until this ordinance ceases to be in effect under subsection (e) of Section
853.404 of the TMRS Act, provided that, as to such subsequent year, the actuary
for the System has made the determination set forth in subsection (d) of Section
853.404 of the TMRS Act.
(f) 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 of 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. Effective Date.
Subject to approval by the Board of Trustees of the System, this ordinance
shall be and became effective on the 1st day of January, 1994.
Passed and approved this 14th day of October, 1993.
ATTEST:
~Jf~~ai~ L-~L~2~f
Kathy Turner, City Secretary
APPROVED:
~~
Bill Abbott, Mayor