Ordinance No. 3,726•
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ORDINANCE NO. 3726
AN ORDINANCE AUTHORIZING AND AI.LDy11B%IG, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL REVIREMENT SYSTEM,
"UPDATED SERVICE CREDITS* IN SAID SYSTEM FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM 1MHo
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF BAYTOW%
PROVIDING FOR INCREASED PRIOR AND CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED
RETIREES OF THE CITY; AND ESTABL,. 944 AN EFFECTIVE oA1T€
FOR SUCH ACTIONS,
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAYTOWNl,
TEXAS:
Section I: Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63.401 through 63.403 of
Title 1108, Revised Civil Statues 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 lst day of January, 1984, by reason
of service in the employment of the City of Baytown, and on such date has at least
36 months of credited service with said sys�em, shall be and is hereby allowed
"Updated Service Credit" (as that term is defined in subsection (d) of Section 63.402
of said title) in an amount that is 60% of the "vase Updated Service Credit" of the
member (calculated as provided in subsection (c) of Section 63.402 of said title).
The Updated Service 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) On the terms and conditions set out in Section 63.601 of said title, any
member of the Texas Municipal Retirement System who is eligible for Updated
Service Credits on the basi- of service with this City, and who has unforfeited
credit for prior service and /or current service with another participating municipality
or municipalities :,y reason of previous service, and was a contributing member on
January I, 1983, shall be credited with Updated Service Credits pursuant to,
calculated in accordance with, and subject to adjustment as set forth in said 63.601.
(c) In accordance with the provisions of subsection (d) of Section 63.401 of
said title, the deposits required to be made to the Texas Municipal Retirement
System by employees of the several participating departments an 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.
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Section 2: Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 64.203 of Title 1108, Revised
Civil Statutes of Texas, 1925, as amended, the City of Baytown hereby elects to
allow and to provide for payment of the incteases below. stated in monthly benefits
payable by the Texas Municipal Retirement System to retired employes and to
Leneficiaries of deceased employees of this City under current service annuities and
prior service annuities arising from • ervice 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 nn 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 13 months before the effective date of this
ordinance.
(c) An increase in an annuity 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.
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Section 3: The City of Baytown is hereby authorized and directed to notify
the Director of ,.he System of adoption of this ordinance, and of the participation
of the City in said Fund.
Section 4: Effective Date. 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 1st day of
January, 1984.
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INTRODUCED, READ, mmd PASSED by the affirmative vote
Council of the City of Baytown, this the Ath day of December, ;983.
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