Ordinance No. 2,84900313 -4
ORDINANCE NO. 2849
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF THE CITY OF
BAYTOWN, TEXAS, 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SUMS SO WITHDRAWN, PLUS ANNUAL WITHDRAWAL CHARGES, AND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 SERVICES 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 for the Texas Municipal Retirement
System has determined that the granting of the credits
hereinbelow authorized and undertaken will not impair the
ability of the City to meet all present and prospective
liabilities of its account in the Municipality Prior Service
Accumulation Fund with Texas Municipal Retirement System,
and will not impair the ability of the City to provide for
payment of prior service annuities or current service annuities
chargeable to its accounts with the System; NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
BAYTOWN:
Section 1: Pursuant to subsection 8 of Section VI of
Article 6243h, Vernon's Texas Civil Statutes, as amended,
the City of Baytown hereby elects to allow any member of
Texas Municipal Retirement System who is an employee of this
City on the 13th day of March, 1980, who has terminated a
previous membership in said System by withdrawal of deposits
while absent from service, 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lump sum the amount withdrawn, plus a withdrawal charge of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 such
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 an employee of this City, whether so
rendered or not. The City of Baytown agrees to underwrite
and hereby assumes the obligations arising out of the granting
003.13 -4a
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 Prior
Service 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 Prior
Service Accumulation Fund; and the deposits of the amount
previously withdrawn by the member shall be credited to his
individual account in the Employees Saving Fund of the
System.
Section 2: This ordinance shall take effect from and
after its passage.
INTRODUCED, READ, and PASSED by the affirmative vote of
the City Council on this
ATTEST:
13th day of March
EILEEN P. HALL, City Cler
APPROVED:
�, 6W & a�
SCOTT BOUNDS, City Attorney
11MM
E 11EETT 0. HUT TD, Mayor
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