HomeMy WebLinkAbout16744 ORD - 12/09/1981sp;11/24/81;lst
AN ORDINANCE
AUTHORIZING AND ALLOWING, UNDER THE ACT GOVERNING THE
TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED SERVICE
CREDITS" IN SAID SYSTEM FOR SERVICE PERFORMED BY QUAL-
IFYING MEMBERS OF SUCH SYSTEM IN THE EMPLOYMENT OF THE
CITY OF CORPUS CHRISTI; PROVIDING FOR INCREASED PRIOR
AND CURRENT SERVICE ANNUITIES FOR RETIREES AND BENE-
FICIARIES OF DECEASED RETIREES OF THE CITY; AND ESTAB-
LISHING AN EFFECTIVE DATE FOR SUCH ACTIONS; AND
DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. Authorization of Updated Service Credits.
(a) On the terms and conditions set out in Sections 63.401
through 63.403 of Title 1106, Revised Civil Statutes of Texas, 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, 1982, by reason of service in the employment of the City of
Corpus Christi, 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 63.402 of said title) in
an amount that is 100 percent of the "base Updated Service Credit" of the
member (calculated as provided in subsection c of Section 63.402 of said
title). The Updated Service Credit hereby allowed shall replace any Updated
Service Credit, prior service credit, special prior service credit, or ante-
cedent service credit previously authorized for part of the same service.
(b) In accordance with the provisions of subsection d of Sec-
tion 63.401 of said Title 1108, the deposits required to be made to the Texas
Municipal Retirement System by employees of the several participating depart-
ments 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 the terms and conditions set out in Section 64.203 of
Title 1108, Revised Civil Statutes of Texas, as amended, the City of Corpus
Christi hereby elects to allow and to provide for payment of the increases
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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 service by such employees to 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 com-
puted 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 percent 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 increase in
the amount of an annuity, the amount of the annuity will not be changed here-
by.
(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, 1982.
SECTION 4. That upon written request of the Mayor or five
Council members, copy attached, to find and declare an emergency due to
the need for efficient administration of City affairs, such finding of an
emergency is made and declared requiring suspension of the Charter rule as
to consideration and voting upon ordinances or resolutions at three regular
meetings so that this ordinance is pa ed and shall take effect upon first
reading as an emergency this the qday of December, 1981.
ATTEST:
it eS cretary
A OVED:
DAY OF DECEMBER, 1981
&cock , C' Attorney
ill
MAYOR
THE CITY CORPUS CHRISTI, TEXAS
Corpus Christi, ex s
day of , 1981
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
For the reasons set forth in the emergency clause of the foregoing ordinance or resolution,
an emergency exists requiring suspension of the Charter rule as to consideration and voting
upon ordinances or resolutions at three regular meetings; I/we, therefore, request that you
suspend said Charter rule and pass this ordinance or resolution finally on the date it is
introduced, or at the present meeting of the City Council.
Respectfully, Respectfully,
Council Members
,714,
„.
THE ITY OF CORPUS CHRISTI, TEXAS
MAYOR
The above ordinance was passed by the following vote:
LutheF Jones
Betty N. Turner
Jack K. Dumphy
Bob Gulley
Herbert L. Hawkins, Jr.
Dr. Charles W. Kennedy
Cliff Zarsky
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