HomeMy WebLinkAbout1998-O-08 - TMRS ActORDINANCE NO. 1998
TEXAS MUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE AFFECTING PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS
MUNICIPAL RETIREMENT SYSTEM GRANTING THE ADDITIONAL RIGHTS
AUTHORIZED BY SECTION 854.202(g) OF TITLE 8, TEXAS GOVERNMENT CODE, AS
AMENDED, AND PRESCRIBING THE EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF STEPHENVILLE, TEXAS:
Section 1. Pursuant to the provisions of Section 854.202(g) of Subtitle G of Title 8, Texas
Government Code, as amended, which Subtitle shall herein be referred to as the "TMRS Act", the
City of Stephenville, Texas, adopts the following provisions affecting participation of its employees
in the Texas Municipal Retirement System (herein referred to as the "System"):
(a) Any employee of the City who is a member of the System is eligible to retire and
receive a service retirement annuity if the member has at least 20 years of credited service in the
System performed for one or more municipalities that have adopted a like provision under Section
854.202(g) of the TMRS Act.
(b) Prior to adopting this ordinance, the government body of the City has: (1) prepared
an actuarial analysis of member retirement annuities at 20 years of service; and (2) held a public
^ hearing pursuant to the notice provisions of the Texas Open Meetings Act, Chapter 551, Texas
Ij Government Code.
(c) The rights hereinabove authorized shall be in addition to the plan provisions
heretofore adopted and in force at the effective date of this ordinance pursuant to the TMRS Act.
Section 2. This ordinance shall become effective on the first day of October, 1998.
PASSED AND APPROVED at a Regular Meeting of the City Council of the City
of Stephenville, Texas, on this the 3rd. day of , 1998.
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Jo ollan, Mayor
ATTEST:
Cin Sta ord, tiSecreW
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Reviewed by Donald B. Davis
City Administrator
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Approved to form and legality as
Randy Thomas, City Attorney