Ord. 0594 08-13-90ORDINANCE NO. 594
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PEAR -
LAND, TEXAS, 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 SYSTEMS WHO
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF PEAR -
LAND; PROVIDING FOR INCREASED PRIOR AND CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED
RETIREES OF THE CITY; AND ESTABLISHING AN EFFECTIVE
DATE FOR SUCH ACTIONS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS:
Section 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Section 853.401
through 853.403 of Subtitle G of Title 8, V.T.C.A., Government
Code, 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, 1990,
by reason of service in the employment of the City of Pearland,
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
853.402 of said title) in an amount that is 100% of the "base
Updated Service Credit" of the member (calculated as provided in
subsection (c) of Section 853.402 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) On the terms and conditions set out in Section 853.601
of said title, any member of the Texas Municipal Retirement
System who is eligible for Updated Service Credits on the basis
of service with this City, and who has unforfeited credit for
prior service and/or current service with another participating
municipality or municipalities by reason of previous service, and
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was a contributing member on January 1, 1990, shall be credited
with Updated Service Credits pursuant to, calculated in accord-
ance with, and subject to adjustment as set forth in said
853.601.
(c) In accordance with the provisions of subsection (d) of
Section 853.401 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 854.203 of
Subtitle G of Title 8, V.T.C.A., Government Code, as amended, the
City of Pearland hereby elects to allow and to provide for pay-
ment of the increases 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 serv-
ice by such employees of 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 70% 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.
(d) If a computation hereunder does not result in an in-
crease in the amount of an annuity, the amount of the annuity
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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,
1991.
PASSED and APPROVED on first reading this 01.3 day of
ATTEST:
ilbe2-€4.-C—
City Secretary
, A. D., 1990.
PASSED and APPROVED on second and final reading this / 3
day of �L , A. D., 1990.
ATTEST:
l/j,,.,c !�-'Ut2c,,LC,
City Sedretary
City Attorney
Mayor
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