Ordinance 1985-48
U F:;: DIN {) N C E 1'10. ..... .....;J.~.'::.... ...1....rl...... ..... ..... .....
AN URDINANCE AUTHURIZING AND ALLOWING, UNDER THE ACT
GUVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM,
I' UPD{.:I'rED :3E:F\~) I CE PERFUI::;:I'1ED BY [.;1U~;L I FY I Nl3 l"IEI"I13E:F:;:S UF
SUCH SYSTEM WHU PRESENTLY ARE IN THE EMPLOYMENT OF THE
CITY UF WYLIE; PRUVIDING FOR INCREASED PRIUR AND
CURRENT SERVICE ANNUITIES FOR RETIREES AND BENEFICIAR-
IES UF DECEASED RETIREES OF THE CITY; AND ESTABLISHING
AN EFFECTIVE DATE FOR SUCH ACTIUNS.
BE IT URDAINED BY THE CITY CUUNCIL UF THE CITY OF WYLIE,
TE:: X 1{:IS ~
~:3ECT I Ul\J 1.
AUTHURIZATIUN OF UPDATED SERVICE CREDITS:
H. On the terms and conditions set out in Sections
63.401 through 63.403 of Title 110B, Revised Civil
Statutes of Texas, 1925, 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, 1986, 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
~:>yst.f2m~, shc.:\ll bE'! and is hE.'I'''f2by all o~'-Jf!!!d "Updc.:\tE:d
~3E:!r"vi.cf2 CF"t=!dit." (as thi:tt t('?lr'm is defined in
subsection (d) of Section 63.402 of said title) in
,?<.n i:\mount. t.hi::<.t is :1.00% Df the "bas(~' Updi:l.t.E'd ::3E'r"vicE.'
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. In accordance with the provisions of subsection (d)
of Section 63.401 of said title, t.he deposits
required t.o be made to t.he Texas Municipal Retire-
ment Syst.em by employees of the several participat-
ing 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.
~;ECT I m',J 2.
INCREASE IN RETIREMENT ANNUITIES:
H. On terms and conditions set out in SectiDn 64.203 of
Ti t I fo? :1.:1. 013, F"t=....v'i s€'-:!d Ci vi I ::jti:\tutec::; of Te:.: a.s,;~, :I. (:jl:;;~~'i,
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 :1.3 months before the effective date
of this ordinance.
C. An increase in an annuit.y 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 result in an
increase in the amount of an annuity, the amount of
the annuity will not be changed hereby.
E. The amount by which an increase under this Section
exceeds all previously granted increases to an
annuitant is an obligation of this City and of its
account in the municipality accumulation fund of the
Texas Municipal Retirement System.
SECT I 01\1 ......
I:::FFECT I ~)E DP1"fE.
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 :l.st day of January, :1.986.
PASSED AND APPRUVED THIS THE 13TH DAY OF AUGUST, :1.985.
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