Ord. 0605 02-11-91ORDINANCE NO. 605
AN ORDINANCE OF THE CITY OF PEARLAND, TEXAS, 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SYSTEM, TO DEPOSIT THE SUMS SO WITHDRAWN, PLUS ANNUAL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 LIRE EFFECT
AS IF ALL SUCH SERVICE HAD BEEN PERFORMED AS AN EMPLOY-
EE OF THIS CITY.
WHEREAS, the actuary of the Texas Municipal Retirement
System has determined that all obligations charged against the
City'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; now, there-
fore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
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 Pearland hereby elects to allow any member of Texas
Municipal Retirement System who is an employee of this City on
the day of 19 9/ _, who has
terminated a previous membership i`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amount withdrawn, plus a withdrawal charge of five per cent (5%)
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
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such service had been rendered as an employee of this City,
whether so rendered or not. The City of Pearland agrees to
underwrite and hereby assumes the obligations arising out of the
granting of all such credits, and agrees that all such obliga-
tions 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 individual account in the employees saving fund of the
System.
Section 2. This ordinance shall become effective on the
/1 day of , 19 9 / , which is a date
on or after the date set fort in Section 1, above. D
PASSED AND APPROVED on first reading this e2 O day of
ATTEST:
PA JONES
CITY SECRET
, A. D., 1991.
C. V. COPPIN
MAYOR
PASSED and APPROVED on second and final reading this / /
day of vG h e�h , A. D., 1991.
i
ATTEST:
PAT JONES
CITY SECRETARY
APP
t)
SIT FORM:
`j-
LESTER RORICK
CITY ATTORNEY
C. V. COP
MAYOR
N6ERi
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