Ordinance 1990-21
OROHIABCE NO.
90'~1
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE
ACT GOVERNING THE TEXAS MUNICIPAL RETIREMENT
SYSTEM, "UPDATED SERVICE CREDITS" IN SAID SYSTEM
FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF
SUCH SYSTEM WHO PRESENTLY ARE IN THE EMPLOYMENT
OF THE CITY OF WYLIE; PROVIDING FOR INCREASED
PRIOR AND CURRENT SERVICE ANNUITIES FOR RETIREES
AND BENEFICIARIES OF DECEASED RETIREES OF THE
CITY; AND ESTABLISHING AN EFFECTIVE DATE FOR
SUCH ACTIONS
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE,
TEXAS:
SECTION 1. - AUTHORIZATION OF UPDATED SERVICE CREDITS
(a) On the terms and conditions set out in Section 853.401
through 853.403 of Subtitle G of Title 8, V.T.C.A.,
Government Code, as amended, each member of the Texas
Municipal Retirement System who has current service credit
or prior service credit in said System in force and effect
on the 1st day of January, 1990, by reason of service in the
employment of the City of Wylie, 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 853.402 of said
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 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 previously
authorized for part of the same service.
(b) On the terms and conditions set out in Section 853.601
of said title, any member of the Texas Municipal Retirement
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 January
1, 1990, shall be credit with Updated Service Credits
pursuant to, calculated in accordance with, and subject to
adjustment as set forth in said 853.601.
(c) In accordance with the provisions of subsection (d) of
Section 853.401 of said title, the deposits required to be
made to the Texas municipal Retirement 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, V.T.C.A., Government Code, as
amended, the City of Wylie hereby elects to allow and to
provide for payment of the increases below stated in monthly
benefits payable by the Texas Municipal Retirement 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 annuity increase under this Section is
computed as the sum of the prior 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
increase in the amount of an annuity, the
annuity will not be changed hereby.
result in an
amoun t of the
(e) The amount by which an increase under this Section
exceeds all previously granted increases to an annuitant is
obligation of this City and of its account in the
municipality accumulation fund of the Texas Municipal
Retirement 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 lst day of January, 1991.
Passed and approved by the City Council of the City of
Wylie, Texas on this the 23rd day of October, 1990.
" ..) /) / .,/),./
"~'~if~J .k~r_ 0lc'~
I JOHN W. AKIN, MAYOR
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