HomeMy WebLinkAboutORD 80-100 1
ORDINANCE NO. C —c'D- /00
ENTITLED AN ORDINANCE DETERMINING TO GRANT,
PROVIDING FOR AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT
SYSTEM , "UPDATED SERVICE CREDIT" IN SAID
SYSTEM FOR SERVICE PERFORMED BY QUALIFYING
MEMBERS OF SUCH SYSTEM IN THE EMPLOYMENT OF
THE CITY OF BEAUMONT; ELECTING AND PRESCRIBING
THE EFFECTIVE DATE OF SUCH UPDATED SERVICE
CREDITS; AUTHORIZING AND PROVIDING FOR AL-
LOWANCE OF INCREASES, AS HEREIN PROVIDED, IN
MONTHLY BENEFITS PAYABLE BY TEXAS MUNICIPAL
RETIREMENT SYSTEM AFTER THE EFFECTIVE DATE
HEREIN SPECIFIED, TO RETIRED EMPLOYEES AND TO
BENEFICIARIES OF DECEASED EMPLOYEES, UNDER
CURRENT SERVICE ANNUITIES ARISING FROM SERVICE
OF SUCH EMPLOYEES TO THIS CITY.
BE IT ORDAINED BY THE CITY OF BEAUMONT:
Section 1 .
Initial Allowance of Updated Service Credits. (a) On
the terms and conditions set out in Section XVII of Article 6243h,
Vernon's Texas Civil Statutes, as amended 1975, each member of
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 , 1981 , by reason of service in the employment
of the City of Beaumont, shall be and is hereby allowed "updated
service credit" (as that term is defined in said act) in an amount
that is seventy (70%) percent of the "Base Updated Service Credit"
of the member, calculated as provided in said act. The updated
service credit hereby allowed shall be in lieu of and in
substitution for all Prior Service Credits, Special Prior Service
Credits, and Antecedent Service Credits, if any , heretofore
allowed such member by reason of service with the City of
Beaumont.
(b) In accordance with the provisions of said act, 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.
(c) Subject to approval of the Board of Trustees of
Texas Municipal Retirement System , the updated service credits
hereby granted shall be and become effective the lst day of
January , 1981.
Section 2.
Initial Increases in Annuties in Effect. (a) Pursuant
to Section XVIII of Article 6243h , Vernon' s Texas Civil Statutes
as amended and subject to approval by the Board of Trustees of
Texas Municipal Retirement System as provided in said act, the
City of Beaumont hereby elects to allow and to provide for payment
of the increases below specified in all monthly benefits payable
by Texas Municipal Retirement System after the 1st day of January ,
1981 , to retired employees and to beneficiaries of deceased
employees of this City under current service annuities and prior
service annuities arising from service of such employee to this
City , and in effect prior to the date last above mentioned.
( b) Each such monthly benefit for the month of January ,
1981 , and each month thereafter shall be increased by twenty (20%)
percent above the amount of the regular benefit (as distinguished
from any supplemental or distributive benefit) in effect for the
month of December, 1980.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of e,�J , 1980.
ATTEST: - Ma o f -
ity Clerk -
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