Ordinance No. 4,91380128 -4
ORDINANCE NO. 4913
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF THE CITY 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RETIREMENT SYSTEM TO DEPOSIT THE SUMS SO WITHDRAWN PLUS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 SERVICE 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 of the Texas Municipal Retirement
System has determined that all obligations charged against the
City of Baytown's account in the municipality accumulation fund,
including the obligations arising as a result of this ordinance,
can be funded by the City within its maximum contribution rate
and within its amortization period; and
WHEREAS, the City Council has determined that adoption of
this ordinance is in the best interests of the City of Baytown;
NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: Pursuant to Section 63.003 of Subtitle G of
Title 110B, Revised Civil Statutes of Texas, 1925, 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 lst day of January, 1988, who has terminated a previous
membership in said System by withdrawal of deposits while absent
from service, but who has at least 24 months of credited service
as an employee of this City since resuming membership to deposit
with the System in a lump sum the amount withdrawn, plus a
withdrawal charge of five per cent (5a) 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 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 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
accumulation fund; and the deposits of the amount previously
withdrawn by the member shall be credited to his or her
0, individual account in the employees saving fund of the System.
Ll
80128 -4a
is Section 2: This ordinance shall become effective on the
28th day of January, 1988, which is a date on or after the date
set forth in Section 1, above.
® INTRODUCED, READ and PASSED by the affirmative vote of the
City Council of the City of Baytown, this the 28th day of
January, 1988.
I�LETTO. HUTTO, Mayor
ATTEST:
E LEEN P. HALL, City Clerk
KANDALL •ffqtorney
C:1:36:4
n
11
E
n