Ordinance No. 4,28951010 -7
ORDINANCE N0. 4289
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM,
"UPDATED SERVICE CREDITS" IN SAID SYSTEM FOR SERVICE
PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM WHO
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF BAYTOWN;
PROVIDING FOR INCREASED PRIOR AND CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED
RETIREES OF THE CITY; AND ESTABLISHING AN EFFECTIVE DATE
FOR SUCH ACTIONS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: The authorization of Updated Service Credits is as follows:
(a) 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, 1985, 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 system, 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 100% of the "base 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 basis of service with this City, and who has unforfeited
credit for prior service and /or current service with another participating municipality
or municipalities by reason of previous service, and was a contributing member on
January 1, 1985, 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 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.
Section 2: The increase in Retirement Annuities is as follows:
(a) On terms and conditions set out in Section 64.203 of Title 110E3, Revised
Civil Statutes of Texas, 1925, as amended, the City of Baytown 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.
51010 -7a
(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 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.
Section 3: 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, 1986.
INTRODUCED, READ, and PASSED by the affirmative vote of the City
Council of the City of Baytown, this the 10th day of October, 1985.
K,,"--
ATTEST:
[LEEN P. HALL, City Clerk
APPROVED:
7
4-R�ANDALL . STRONG, Attorney