HomeMy WebLinkAboutORD 70-01-7 0 - /
ORDINANCE NO. 70 —1
ENTITLED AN ORDINANCE AMENDING CHAPTER 12 OF THE
CODE OF ORDINANCES OF BEAUMONT, TEXAS, BY ADDING
A SECTION TO BE NUMBERED 12-9.8, PROVIDING FOR
INCREASED MUNICIPAL CONTRIBUTIONS TO THE CURRENT
SERVICE ANNUITY RESERVE AT RETIREMENT OF THE
EMPLOYEES OF THE CITY OF BEAUMONT, TEXAS, WHO
ARE MEMBERS OF THE TEXAS MUNICIPAL RETIREMENT
SYSTEM; REPEALING ALL.ORDINANCES OR PARTS OF
ORDINANCES IN CONFLICT HEREWITH AND PROVIDING
FOR SEVERABILITY.
BE IT ORDAINED BY THE CITY OF BEAUMONT, TEXAS:
1.
That the Code of Ordinances of Beaumont, Texas; is
hereby amended by adding a section to be numbered 12-9.8, which
J
said section reads as follows:
"Section 12-9.8 Increased Municipal Contri-
butions to the Current Service
Annuity Reserve
That effective January 1, 1970, for each month
of Current Service thereafter rendered by each
of its employees who are members of the Texas
Municipal Retirement System, the City will
contribute to the current service annuity
reserve of each such member at the time of his
retirement, a sum that is 150% of such member's
accumulated deposits for such month of employ-
ment; and said sum shall be contributed from
the City's account in the Municipality Current
Service Accumulation Fund."
2.
That all ordinances and parts of ordinances in conflict
herewith are hereby repealed.
3.
That if any section, subsection, sentence, clause or
phrase of this ordinance br the application of same to a par-
ticular set of persons or circumstances should for any.rea.s.on.
be held to be invalid, such invalidity shall in no wise affect
the remaining portions of this ordinance, and to such end the
provisions of this ordinance are declared to be severable.
1970.
PASSED by the City Council this 6th day of January,
- Mayor -
141-6 -,-7,�) - OG;1