Ord. 0336 12-27-76AN ORDINANCE DETERMINING TO. GRANT, PROVIDING FOR AND ALLOWING,
UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM,
"UPDATED SERVICE CREDIT" IN SAID SYSTEM FOR SERVICE PERFORMED
BY QUALIFYING MEMBERS OF SUCH SYSTEM IN THE EMPLOYMENT OF THE
CITY OF PEARLAND; ELECTING AND PRESCRIBING THE. EFFECTIVE DATE
OF SUCH UPDATED SERVICE CREDITS; AUTHORIZING AND PROVIDING FOR
ALLOWANCE OF INCREASES, AS HEREIN PROVIDED, IN MONTHLY BENEFITS
PAYABLE BY TEXAS MUNICIPAL RETIREMENT SYSTEM, AFTER THE EFFEC-
TIVE DATE HEREIN SPECIFIED, TO RETIRED EMPLOYEES AND TO BENE-
FICIARIES OF DECEASED. EMPLOYEES, UNDER CURRENT SERVICE ANNUITIES
ARISING FROM SERVICE OF SUCH EMPLOYEES TO THIS CITY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. Initial Allowance of Updated Service Credits.
(a) On the terms and conditions set out in Section XVII of Article
6243h, Vernon's Texas Civil Statutes, as amended 1975, each member of Texas
Municipal Retirement System who has current service credit or priorservice credit
in said System in force and effect on the 1st day of January, 1977 by reason of
service in the employment of the City of Pearland, shall be and is hereby allowed
"updated service credit" (as that term is'defined in said act) in an amount that
is 100% of the "Base Updated Service Credit" of the member, calculated as provided
in said act. The updated service credit hereby allowed shall be in lieu of and
in substitution for. all Prior Service Credits, Special Prior Credits, and Anteced-
ent- Service Credits, if any, heretofore allowed such member by reason of service
with the City of Pearland.
(b) In accordance with the provisions of said act, 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.
(c) Subject to approval of the Board of Trustees of Texas Municipal
Retirement System the updated service credits hereby granted shall be and become
effective the 1st day of January, 19'i 7' .
PASSED AND APPROVED ON FIRST READING this the ;,_ day of
A. D. 1976.
ATTEST:
1
Li .
City Secrete
.6
Mayor, City of Pearland, Texas
Pro Tem
PASSED AND APPROVED ON SECOND AND FINAL READING this the 27 day of
December , A. D. 1976.
ATTEST
Pearland, Texas