0748ORDINANCE NO. 748
TMRS-C/R-T-D
TEXAS MUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIRE34ENT SYSTEM,
"UPDATED SERVICE CRF. DITS" IN SAID SYSTEM ON AN ANNUAL BASIS
FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF SUCH
SYSTEM WHO AT THE EFFECTIVE DATE OF THE ALLOWANCE ARE IN
THE EMPLOYMENT OF THE CITY OF SOUTHLAKE; PROVIDING FOR
INCREASED PRIOR AND CURRENT SERVICE ANNUITIES FOR RETIREES
AND BENEFICIARIES OF DECEASED RETIREES OF THE CITY; TO
INCREASE THE RATE OF DEPOSITS TO THE TEXAS MUNICIPAL
RETIREMENT SYSTEM BY THE EMPLOYEES OF THE CITY; AND
ESTABLISHING AN EFFECTIVE DATE FOR THE ORDINANCE.
NOW, THERFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF SOUTHLAKE, TEXAS:
Section
(a)
1. Authorization of Updated Service Credits.
On the terms and conditions set out in Sections 853.401 through 853.404 of
Subtitle G of Title 8, Government Code, as amended (hereinafter referred to as the
"TMRS ACT"), each member of the Texas Municipal Retirement System
(hereinafter referred to as the "System") who has current service credit or prior
service credit in the System in force and effect on the 1st day of January of the
calendar year preceding such allowance, by reason of service in the employment of
the City, and on such date had at least 36 months of credited service with the
System, shall be and is hereby allowed "Updated Service Credit" (as that term is
defined in subsection (d) of Section 853.402 of the TMRS Act),
Co)
On the terms and conditions set out in Section 853.601 of the TMRS Act, any
member of the System who is eligible for Updated Service Credits an the basis of
service with this City, who has unforfeited credit for prior service and/or current
service with another participating municipality or municipalities by reason of
previous service, and was a contributing member on the 1st day of January of the
calendar year preceding such allowance, shall be credited with Updated Service
Credits pursuant to, calculated in accordance with, and subject to adjustment as set
forth in said Section 853,601, both as to the initial grant hereunder and all future
grants under this ordinance,
(c)
The Updated Service Credit hereby allowed and provided for shall be 100% of the
"base Updated Service Credit" of the member (calculated as provided in subsection
(c) of Section 853.402 of the TMRS Act).
Ordinance No. 748
Page 2
(d)
(e)
Each Updated Service Credit allowed hereunder 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.
In accordance with the provisions of subsection (d) of Section 853.401 of the
TMRS Act, the deposits required to be made to the System by employees of the
several participating departments on account of current service shall be calculated
from and after the effective date of this ordinance on the full amount of such
person's compensation as an employee of the City.
Section 2. Increase in Retirement Annuities.
(a) On terms and conditions set out in Section 854.203 of the TMRS Act, the City
hereby elects to allow and to provide for payment of the increases below stated in
monthly benefits payable by the System to retired employees and to beneficiaries of
deceased employees of the City under current service annuities and prior service
annuities ar/sing from service by such employees to the City. An annuity increased
under this Section replaces any annuity or increased annuity previously granted to
the same person.
(b)
The amount of the annuity increase under this Section is computed as the sum of
the prior service 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
Section.
(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 increase in the amount of an
annuity, the amount of the annuity will not be changed hereunder.
(e)
The amount by which an increase under this Section exceeds all previously granted
increases to an annuitant is an obligation of the City and of its account in the
municipality accumulation fund of the System.
Section 3. Dates of Allowances and Increases. The initial allowance of Updated Service
Credit and increase in retirement annuities hereunder shall be effective on January 1, 2000,
subject to approval by the Board of Trustees of the System. An allowance of Updated
Service Credits and an increase in retirement annuities shall be made hereunder on January
Ordinance No. 748
Page 3
1 of each subsequent year until this ordinance cease~ to be in effect undex subsection (e) of
Section 853.404 of the TMRS Act, provided that, as to such subsequent year, the actuary
for the System has made the determination set forth in subsection (d) of Section 853.404 of
the TMRS Act.
BE IT FURTHER ORDAINED:
Section 1. That all employees of the City, who are members of the Texas Municipal
Retirement System, shall make deposits to the System at the rate of 7% of their individual
earnings.
Section 2. Effective Date. Subject to approval by the Board of Trustees of the System,
this ordinance shall be and become effective on the 1st at day of June, 1999.
PASSED AND APPROVED ON second reading this
,1999.
so,,?,,,
ATTECT· ~ ... ...'~?~
Sandra L. LeGrand
City Secretary
/ day of
Rick Stacy, Mayor
Star-Telegram FED. I D NO. 22-3148254
AD ORDER NO. 15200013
400 W.SEVENTH STREET•FORT WORTH,TEXAS 76102 ACCOUNT NO. CI T 5 7
TI-1E STATE OF TEXAS
unty of Tarrant
Before me, a Notary Public in and for said County and State, this day
personally appeared TAMMIE BRYANT Billing Specialist for the
Star-Telegram, published by the Star-Telegram Inc. at Fort Worth, in Tarrant County, Texas; and
who, after being duly sworn, did depose and say that the following clipping of an advertisement was
published in the above named paper on the following dates:
DATE AD ORDER NO. DESCRIPTION AD SIZE TOTAL
INCH/LNE RATE AMOUNT
6/04ME 15200013 ORDINANCE NO . 74 I358 lx 43L 43 QUOTE 34 . 83
ORDINANCE NO.}7�4. - `g"�"/"D4-"- - - --
RETIREMENT SYSTHM . l'
AN ING ORDINANCE
UD
THE ACT GOVERNING THEAPMENAN MUNICIPAL
SERVICE CREDITS" IN SAID
SYSTEM ON AN ANNUAL BA-
SIS FOR SERVICE PER-
FORMED BY QUALIFYIN
MEMBERS OF SUCH SYS-
TEM WHO AT THE EFFEC-. - _---_..--
TIVE DATE OF THE ALLOW-
ANCE ARE IN THE EMPLOY-
MENT OF THE CITY OF
SOTHL PROVIDIN
FOR NCREA§ED PRIOR AND
CURRENT SERVICE ANNU-
IT1ES FOR RETIREES AND -
BENEFICIARIES OF DF
CEASED RETIREES OF 1 Ht_
"Y; TO INCREASE THE
E OF DEPOSITS TO THE S ����� --
RE
AS MUNICIPAL RETIkF-
IT SYSTEM BY THE EM-
vYEES of THE kITZ AND 7th JUNE 1999
T14 FOR
E-ORD D SWORN TO BEFORE ME, THIS THE DAY OF
.IANCE No (1
'ASSED AND APPROVED ON v _ .��'� '�w►v�y� �r`e� n
THE ID DAY OF JUNE, Pgr• i)'i o Notary Public Q. =\-ten/ -1...
A.P. DURING THE MEET- P =�` RHONDA R. GOKE $
LAR CITY COUNCIL MEET- eo,„
MAYOR RICK STACY $s' :!• COMMISSION EXPIRES 1
ATTEST; #'''17 TARRANT COUNTY,TEXAS
CITY SE L.SECRETARY D, ,,•........:+_ SEPTEMBER 8, 1999
CITY SECRETARY 'F\OF��-
APPROVED AS TO FORM: I $���,�;;�;,
E.ALLEN TAYLOR JR.,
�.ITYATTORNEY
PLEASE PAYTHIS ORIGINAL INVOICE AND RECONCILE WITH MONTHLY STATEMENT. THANK YOU!
♦-----TEAR ALONG THIS PERFORATION AND RETURN THE LOWER PORTION WITH YOUR PAYMENT-----j
Star-'Felegrani
REMIT TO: 0. 400 W.SEVENTH ST. •FORT WORTH,TEXAS 76102
ACCOUNT AMOUNT
15200013 NUMBER CIT57 DUE 34 . 83
PAGE 1 01 IF ANY QUESTIONS, PLEASE CALL(817)390-7885
CITY OF SOUTHLAKE
CTY SOUTHLAKE 1
667 N CARROLL AVE PLEASE PAY
SOUTHLAKE, TX 76092-6412 THIS AMOUNT, 34 . 83
PLEASE WRITE IN AMOUNT ENCLOSED
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FED. I D. NO. 22 3148254
Star-Telegram
AD ORDER NO. 15129917
400 W.SEVENTH STREET•FORT WORTH,TEXAS 76102 ACCOUNT NO. C I T 5 7
TL-IE STATE OF TEXAS
runty of Tarrant
Before me, a Notary Public in fRguttiiHji6Wiinty and State, this day
personally appeared Billing Specialist for the
Star-Telegram, published by the Star-Telegram Inc. at Fort Worth, in Tarrant County, Texas; and
who, after being duly sworn, did depose and say that the following clipping of an advertisement was
published in the above named paper on the following dates:
/ DATE AD ORDER NO. DESCRIPTION AD SIZE TOTAL INCH/LINE RATE AMOUNT
5/21ME115129917; CITY OF SOUTHLAK I358 1x 50L 50 QUOTE 40 . 50
CITY OF SOi: HLAKE, 15I21_0 5/21
TEXAS
NOTICE was heieby given to
all interested persons that
the City Council of the City of •
Southlake, Texas, will be
holding a public hearing dur-j _--- - - - ----
ing the regular city council
meeting to be held on June
1, 1999, at 7:00 p.m. The •
meeting will be.held in the - ---- -------—.—
City Council Chambers of
City Hall, 667 North Carroll
Avenue, Southlake, Texas.
Purpose of the hearing will
he held regarding the follow- ---- --
ing
ORDINANCE NO.748
TEXAS I' ., tiIPAL
RETIREMENT SYSTEM •
AN AUTHORIZ-
ING AND AALLOWING,UNDER
THE ACT COVERING THE
TEXAS MUNICIPAL RETIRE-
MENT SYSTEM, "UPDATED
SERVICE CREDITS" IN SAID_ SI \\
S S1X›,-14
SYSTEM FOR ON
AN SERVICE ANNUAL
PER-
FORMED BY. QUALIFYING 24th MAY 1999
MEMBERS OF SUCH SYS-.�
SL TEM WHO AT THE EFFEC-3WOF�,,TORE ME THIS THE DAY OF
TIVE DATE OF THE ALLOW-
ANCE ARE IN THE EMPLOY- A+gRv pva„
MENT OF THE CITY OF 0 p9i '.44 RHONDA R. GOKE
SOUTHLAKE' PROVIDING Oyy/ ' VI Notary Public ..e
FOR INCREASED PRIOR AND ti
CURRENT SERVICE ANNU- 0%`;�'T'•i COMMISSION EXPIRES
ITIES FOR RETIREES AND r
l�: �\ �S
BENEFICIARIES OF DE- �y..,•,,,,.•'t: SEPTEMBER 8 1999
CEASED RETIREES OF THE 4�t\" _ TARRANT COUNTY,TEXAS
CITY' TO INCREASE THE
RATE OF DEPOSITS TO THE
TEXAS MUNICIPAL RETIRE- ,
PLOYEES OF HE C TYEA D
F TVEAOATEIFOORA HEESRDII- ORIGINAL INVOICE AND RECONCILE WITH MONTHLY STATEMENT. THANK YOU!
NANCE.
Sandra L.LeGratart'__d TEAR ALONG THIS PERFORATION AND RETURN THE LOWER PORTION WITH YOUR PAYMENT
City Secretary_____ _ - �►
\
tarTeleg ram REMIT TO: 400 W.SEVENTH ST. •FORT WORTH,TEXAS 76102
ACCOUNT C I T 5 7 AMOUNT 40 . 50
15129917 NUMBER DUE
PAGE], o$ IF ANY QUESTIONS, PLEASE CALL(817)390-7885
CITY OF SOUTHLAKE
CTY SOUTHLAKE ( 1
667 N CARROLL AVE PLEASE PAY
SOUTHLAKE, TX 76092-6412 THIS AMOUNT 40 . 50
PLEASE WRITE IN AMOUNT ENCLOSED