Ordinance 1991-10
TMRS-H
(Rev. 8/89)
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TEXAS MUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF THE CITY WHO HAVE
TERMINATED PREVIOUS MEMBERSHIPS IN TEXAS MUNICIPAL RETIREMENT
SYSTEM, TO DEPOSIT THE SUMS SO WITHDRAWN, PLUS ANNUAL
WITHDRAWAL 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
SUCH WITHDRAWAL, WITH LIKE EFFECT AS IF ALL SUCH SERVICE HAD BEEN
PERFORMED AS AN EMPLOYEE OF THIS 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
interests of the City; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS:
Section 1. Pursuant to Section 853.003 of Subtitle G of Title 8, V.T.C.A., Government
~o e, as amended, the City of Wylie hereby elects to allow any member Of. Texqs Municipal
~ rement System who is an employee of this City on the c;f,qJr..,t.(Jday of
' :p.Jii) --I , 19 9'/ (1), who has terminated a previous mem~ip in said
System ~;ithdrawa1 of deposIts while absent from service, but who has at least 24 months of
credited service as an employee of this City since resuming membership to deposit with the
System in a lump sum the amount withdrawn, plus a withdrawal charge of five per cent (5%) of
such amount for each year from date of such withdrawal to date of redeposit, and thereupon
sucl1 member shall be allowed credit for all service to which the member had been entitled at
date of termination of the earlier membership, with like effect as if all such service had been
rendered as a employee of this City, whether so rendered or not. The City of Wylie agrees to
underwrite and hereby assumes the 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
charged to this City's account in the municipality accumulation fund. The five per cent (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
saving fund of the System.
i ,,'j ~5.F-ction 2. This ordinance shall become effective on the d.v~ay of
~!i:.1;JL_~ , 19 9'/ , which is a date on or after the date set forth in Section 1,
abbv~.
Passed and approved this the '~1II""6Iit,); of cp /Jd:t , 19 J /
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A TTEST: ~\. '{ y( %4PPROVED:
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(1) THqSIt~~it ,l}:~OT BE LA TER .fM~)HEiwFijCTIVE DATE OF THE ORDINANCE
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