Ord 092-86 11/4/1986 • 40.
ORDINANCE NO. 92-86
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 WICHITA FALLS:
RETIREES AND BENEFICIARIES OF DECEASED RETIREES OF THE CITY: AND
ESTABLISHING AN EFFECTIVE DATE FOR SUCH ACTIONS
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, THAT:
Section 1. Authorization of Updated Service Credits.
(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, 1987, by reason of service in the employment of the
City of Wichita Falls, 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 or
said title) in an amount that is 40% 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) 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. increase in Retirement annuities.
(a) On terms and conditions set out in Section 64.203 of Title 110B,
Revised Civil Statutes of Texas, 1925, as amended, the City of Wichita Falls
hereby elects to allow and to provide for payment of the 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.
(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 30% 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.
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(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. 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, 1987.
PASSES AND APPROVED this the 4th day of November, 1986.
//
M A I R
ATTEST:
, i
CIT CLERK
Ad 184830
1
ORDINANCE NO 92-86 Affidavit to Publication
AN ORDINANCE AUTHORIZING
AND ALLOWING, UNDER THE
ACT GOVERNING THE TEXAS THE STATE OF TEXAS
MUNICIPAL RETIREMENT SYS-e
TEM, "UPDATED SERVICE COUNTY OF WICHITA
CREDITS"IN SAID SYSTEM FOR
SERVICE PERFORMED BY QUALI-
FYING MEMBERS OF SUCH SYS-
TEM WHO PRESENTLY ARE IN 20 t November
THE EMPLOYMENT OF THE CITY On this day of
OF WICHITA FALLS:PROVIDING 1986
FOR INCREASED PRIOR AND A.D .personally appeared before me, the undersigned SERVICE ANNUITIES Y PP fined authority
FOR RETIREES AND Darice U. Ming bookkeeper
OF DECREASED per
RETIREES OF THE CITY:AND ES-
TABLISHING AN EFFECTIVE • for the Times Publishing Company of Wichita Falls, publishers of the Wichita Falls
DATE FOR SUCH ACTIONS
ORDINANCE 86 Record News, a newspaper published at Wichita Falls in Wichita County, and
CLOSING,ORDINANCE CLOSING,VA- p y'
CATING, AND ABANDONING
THE FIFTEEN (15) FEET WIDE,, upon being duly sworn by me, on oath states that the attached, advertisement is a
EAST-WEST ALLEY, LYING
OF BLOCK 21.HILLCREST true and correct copy of advertising published in o?-:e 1)
ADDITION, WICHITA FALLS,
TEXAS,AND RETAINING A UTIL- issues thereof on the following dates:
ITY EASEMENT
November 17, 1986
Bookkeeper for Times Publishing Company
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of Wichita Falls
(SEAL) Subscribed and sworn to before me this the day and year first above written.
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7/92 ff',F J\_ Nf R N.LEWIS
Notary Public, Texas
M y Colnmissiou Expirev.
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