Ordinance 2000-23
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ORDINANCE NO /fOCO -f), C)
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF THE CITY WHO HAVE
TERMINATED PREVIOUS MEMBERSHIPS IN THE TEXAS MUNICIPAL RETIREMENT
SYSTEM, TO DEPOSIT THE SUMS SO WITHDRAWN, PLUS ANNUAL WITHDRA WL
CHARGES, AND ALLOWING AND UNDERTAKING THE COST OF ALLOWING ANY SUCH
EMPLOYEE CREDIT IN SUCH SYSTEM FOR ALL SERVICE TO WHICH SUCH EMPLOYEE
HAD BEEN ENTITLED AT DATE OF WUCH WITHDRAWL, WITHDRAWL, WITH LIKE
EFFECT AS IF ALLSUCH SERVICE HAD BEEN PERFORMED AS AN EMPLOYEE OF THE
CITY.
WHEREAS, the actuary of the Texas Municipal Retirement System has determined that all
obligations charged against the City's account in the municipality accumulation fund, including the
obligations arising as a result of this ordinance, can be funded by the City within its maximum contribution
rate and within its amortization period; and
WHEREAS, the City Council has determined that adoption of this ordinance is in the best
interest of the City, now therefore,
WHEREAS, the City Council of the City of Wylie, Texas finds that it will be in the public
interest for the City to have its employees participate in the Texas Municipal Retirement System as
hereinafter provided; now therefore,
BE IT ORDAINED by the City Council of Wylie, Texas:
,~,
Section 1. Pursuant to Section 853.003 of Subtitle G of Title 8, v.T.C.A. Government code, as
amended, the City of Wylie hereby elects to allow any member of the Texas Municipal Retirement System
who is an employee of this City on the I Z / day of Q{:{' m ~W trX(} who has terminated a previous
membership in said System by withdrawal of deposits while absent from service, but who has ast least 24
months of credited service as an employee of this City since resuming membership to deposit with the
System a lump sum the amount withdrawn, plus a withdrawal charge of five percent (5%) of such amount
for each year from date of such withdrawal to date of redeposit and thereupon such member shall be
allowed credit for all service to which the member had been entitled at date of termination of earlier
membership, with like effect, as if all such service had been rendered as an employee of this City, whether
so rendered or not. The City agrees to underwrite and hereby assumes to obligations arising out of the
granting of all such credits and agrees that all such obligations and reserves required to provide such credits
shall be charges to this City's account in the municipality accumulation fund. The five percent (5%) per
annum withdrawal charge paid by the member shall be deposited to the credit of the City's account in said
municipality accumulation fund; and the deposits of the amount previously withdrawn by the member shall
be credited to his or her individual account in the employees savings fund of the System.
Section 2. This ordinance shall become effective on the \:z, day of r2"u~}I1IJtt.-{ 2000 which is
a date on or after the date set forth in Section 1, above.
PASSED AND APPROVED this the [0 day of r,YtL.Mp;,;,i..-
,2000.
,( 6d
i.~ _~
John on , Mayor
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THE WYLIE NEWS
Covering W}'lie, Sachse, Murphy and Ihe surrounding area
110 N. B31111rd SI.
P.O. Box 369
Wylie. Texas 75098
(972) 442-5515
Pox (972) 442-431 R
STATE OF TEXAS
COUNTY OF COLLIN
Defore me, the undersigned authority, on this day personally appeared Chad Engbrock, of THE WYLIE
NE\VS, a newspaper regularly published in Collin County, Thxas and having general circulatfon in Collin
Count}', Texas, who being by me duly sworn deposed and says that the foregoing attached
26 L Legal Ord. 2000-23
was published in said newspaper on the following dates, to-wit:
Dec. 27
, 2000, and
, 2000.
01!::
Subscribed and sworn to before me this the 3rd
to certify which witness my hand and seal of office.
day of January 2001
,2000,
)
Notary Public in and for
The State of Texas
My Commission Expires~)
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