HomeMy WebLinkAboutORD 1981-076 � .
ORDINANCE NO. 81-76
AN ORDINANCE AUTHORIZING AI�ID ALLOW-
ING, UNDER THE ACT GOVERNING THE
TEXAS MUNICIPAL RETTREMENT SYSTE24,
"UPDATED SERVICE CREDITS" IN SAID
SYSTEM FOR SERVICE PERFORMED BY
QUALIFYING MEMBERS OF SUCH SYSTEM
IN THE EMPLOYMENT OF THE CITY OF
GRAPEVINE: AND ESTABLISFiING AN
EFFECTIVE DATE FOR SUCH ACTIONS
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, 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, as amended, each member of the Texas Municipal Re-
tirement System who has current service credit or prior
service credit in said System in force and effect on the
lst day of January, 1982, by reason of service in the
employment of �he City of Grapevine, 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 100g of the "base
Updated Service Credit" of the member (calculated as pro-
vided 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 pre-
viously authorized for part of the same service.
(b) In accordance with the provisions of subsection d of
Section 63. 401 of said Title 110B,_ the deposits required to �
be made to the Texas Municipal Retirement System by employees
of the several participating departments on account of cur-
rent 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. Effective Date. Subject to approval by the
Board of Trustees of the Texas Municipal Retirement System,
the updated service credits granted hereby shall be and be-
come effective on the lst day of January, 1982.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the lst day of December, 1981.
APPROVED:
�
__ Mayor
ATTEST:
City Sec t ry
APPROVED AS TO FORM AND LEGALITY:
City Attorney _
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