Res 131-2001 11/20/2001RESOLUTION NO. 31 - JW I
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, REAFFIRMING THE CITY OF WICHITA FALLS' TEN -
YEAR VESTING PLAN FOR EMPLOYEES; FINDING AND
DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION
WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls has established a 10 -year vesting plan for
employees with the Texas Municipal Retirement System; and
WHEREAS, Senate Bill 522, which becomes law on January 1, 2002,
establishes 5 -year vesting for TMRS cities that do not opt out of that portion of SB 522,
and
WHEREAS, the City of Wichita Falls desires to maintain 10 -year vesting for
employees.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City of Wichita Falls opts out of that provision of SB 522 that
establishes 5 -year vesting, and maintains the 10 -year vesting plan currently in place for
the City of Wichita Falls.
SECTION 2. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 20th day of November, 2001.
ATTEST:
City Clerk
AYOR