HomeMy WebLinkAbout03/25 TMRS 20 Yr Any Age OptionORDINANCE NO. 03/25
AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, AFFECTING
PARTICIPATION OF CITY EMPLOYEES IN THE TEXAS MUNICIPAL
RETIREMENT SYSTEM GRANTING THE ADDITIONAL RIGHTS AUTHORIZED BY
SECTION 854.202(g) OF TITLE 8, TEXAS GOVERNMENT CODE, AS AMENDED,
AND PRESCRIBING THE EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK,
TEXAS:
SECTION I
Pursuant to the provisions of Section 854.202(g) of Subtitle G of Title 8, Texas
Government Code, as amended, which Subtitle shall herein be referred to as the "TMRS Act,"
the City of University Park, Texas, adopts the following provisions affecting the participation of
its employees in the Texas Municipal Retirement System (herein referred to as the "System"):
(a)
Any employee of the City who is a member of the System is eligible to retire and
receive a service retirement annuity if the member has at least 20 years of credited
service in the System performed for one or more municipalities that have adopted
a like provision under Section 854.202(g) of the TMRS Act.
(b)
Prior to adopting this ordinance, the governing body of the City has: (1) prepared
an actuarial analysis of member retirement annuities at 20 years of service; and
(2) held a public hearing pursuant to the notice provisions of the Texas Open
Meetings Act, Chapter 551, Texas Government Code.
(c)
The rights hereinabove authorized shall be in addition to the plan provisions
heretofore adopted and in force at the effective date of this ordinance pursuant to
the TMRS Act.
SECTION II
This ordinance shall become effective on the first day of October 2003.
DULY PASSED by the City Council of the City of University Park, Texas, on the 2nd day of
September 2003.
MAYOR
CITY ATTORNEY
ATTEST:
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