HomeMy WebLinkAbout024120 ORD - 07/25/2000AN ORDINANCE
ORDINANCE 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 SYSTEM WHO
PRESENTLY ARE IN THE EMPLOYMENT OF THE CITY OF CORPUS
CHRISTI; PROVIDING FOR INCREASED PRIOR AND CURRENT
SERVICE ANNUITIES FOR RETIREES AND BENEFICIARIES OF
DECEASED RETIREES OF THE CITY; ESTABLISHING AN
EFFECTIVE DATE FOR SUCH ACTIONS. AND PROVIDING FOR
SEVERANCE.
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 853.401 through 853.403 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 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)
In accordance with the provisions of subsection (d) of Section 853.401 of said
title, 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 date aforesaid on the full amount of such person's earnings as an
employee of the City.
Page 2 of 3
SECTION 2. Increase in Retirement Annuities.
(a)
On terms and conditions set out in Section 854.203 of Subtitle G of Title
8, Government Code, as amended, 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 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 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 50% 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 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 System.
SECTION 3. Effective Date.
Subject to approval by the Board of Trustees of the System, this ordinance shall be and
become effective on the 1st day of January 2001.
SECTION 4. Providing for Severance.
If, for any reason, any section, paragraph, subdivision, clause, phrase, word or provision
of this Ordinance shall be held invalid or unconstitutional by final judgement of a court
of competent jurisdiction, it shall not affect any other section, paragraph, subdivision,
clause, phrase, word or provision of this Ordinance, for it is the definite intent of this City
Council that every section, paragraph, subdivision, clause, phrase, word or provision
hereof be given full force and effect for its purpose.
Page 3 of 3
ATTEST:
Armando Chapa, City Secretary
Assistant City Attorney
THE CITY OF CORPUS CHRISTI
,2000, James R. Bray, Jr., City Attorney
Prepared by the Human Resources Department
June 27, 2000
CAMy Documents\TMRS 2000 01\TMRS ORDINANCE 2000 01 .doc
Javier D. Colmenero ~ ~ Betty Jean Longoria
e ody Cooper ~ ~ ,- , John Longoria
Henry Garrett ~ ~ Mark Scott
Dr. Arnold Gonzales ~
Samuel L. Neal.,r.~~ Rex A. Kinnison &d,C
Javier D. Colmenero ~ Betty Jean Longoria L
ilelody Cooper ~5~A~(5~ ~ Jo~ Longoria
Hen~ Ga~ett ~. Mark Sco~ ~
r. gold Gonzales % ,
PASSED AND APPROVED, this the ~y of ~~, 2000.
ATTEST:
Armando Chapa
City Secretary
APPROVED THIS'Z2- ~d-~ DAY OF
Assistant City Attorney
Samuel L. Neal, Jr.
Mayor, City of Corpus Christi
,2000.