HomeMy WebLinkAbout87-2723,822
ORDINANCE NO. 87-2723
AN ORDINANCE AFFECTING PARTICIPATION OF CITY
EMPLOYEES IN THE TEXAS MUNICIPAL RETIREMENT
SYSTEM; GRANTING THE ADDITIONAL RIGHTS, CREDITS
AND BENEFITS AUTHORIZED BY SECTIONS 62.105,
64.202(f), 64.204, 64.405, 64.406 AND 64.410 OF
TITLE ll0B, REVISED CIVIL STATUTES OF TEXAS,
1925, AS AMENDED BY THE 70TH LEGISLATURE; AND
PRESCRIBING THE EFFECTIVE DATE OF THIS ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF PLAINVIEW, TEXAS:
Section 1. Pursuant to the provisions of Sections 62.105,
64.202(f), 64.204, 64.405, 64.406, and 64.410 of Subtitle G of
Title ll0B, Revised Civil Statues of Texas, 1925, as amended by
the 70th Legislature of the State of Texas~ Regular Session, which
Subtitle shall herein be referred to as the "TMRS Act," the City
of Plainview, Texas, adopts the following provisions affecting
participation of its employees in the Texas Municipal Retirement
System (which retirement system shall herein be referred to as the
"System"):
(a) Any employee of the City who is a member of the System
is eligible to retire and receive annuity, if the member has at
least 25 years of credited service in that System performed for
one or more municipalities that have participation dates after
September 1, 1987, or have adopted a like provision under Section
64.202(f) of the TMRS Act.
(b) If a "vested member," as that term is defined in Section
64.204(b) of the TMRS Act, shall die before becoming eligible for
service retirement and leaves surviving a lawful spouse whom the
member has designated as beneficiary entitled .to payment of the
member's accumulated contributions in event of the member's death
before retirement, the surviving spouse may by written notice
filed with the System elect to leave the accumulated deposits on
deposit with System subject to the terms and conditions of said
Section 64.204(b). If the accumulated deposits have not been
withdrawn before such time as the member, if living, would have
become entitled to service retirement, the surviving spouse may
elect to receive, in lieu of the accumulated deposits, an annuity
payable monthly thereafter during the lifetime of the surviving
spouse in such amount as would have been payable had the member
lived and retired at that date under a joint and survivor annuity
(Option 1) payable during the lifetime of the member and
continuing thereafter during the lifetime of the surviving spouse.
(c) At any time before payment of the first monthly benefit
of an annuity, a surviving spouse to whom subsection (b) applies
may, upon written application filed with the System, receive
payment of the accumulated contributions standing to the account
of the member in lieu of any benefits otherwise payable under this
section. In the event such a surviving spouse shall die before
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payment of the first monthly benefit of annuity allowed under
section, the accumulated contributions credited to the account of
the member shall be paid to the estate of such spouse.
(d) Any employee of the City who is a member of the System
and who performed service for this City prior to September 1,
1987, (for which service that employee did not receive credit with
the System because the employee was not at that time a member of
the System due to his or her age at the date of his or her
employment) is hereby granted service credit with the System for
all of such service (performed after the date of his or her latest
employment by the City) that is prior to September 1, 1987, for
which the employee has not previously received credit with the
System, pursuant to Section 62.105 of the Act.
(e) The rights, credits and benefits hereinabove authorized
shall be in addition to the plan provision heretofore adopted and
in force at the effective date of this ordinance pursuant to the
TMRS Act.
(f) Any employee of this City who is a member of the System
is eligible to retire and receive a "standard occupational
disability annuity" under Section 64.408 of the TMRS Act or an
"optional occupational disability retirement annuity" under
Section 64.410 of the TMRS Act upon making application therefor
upon such form and in such manner as may be prescribed by the
Board of Trustees of the System, provided that the System's
medical board has certified to said Board of Trustees: (1) that
the member is physically or mentally disabled for further
performance of the duties of the member's employment; (2) that
the disability is likely to be permanent; and (3) that the member
should be retired. Any annuity granted under this subsection
shall be subject to the provisions of Section 64.409 of the TMRS
Act.
(g) The provisions relating to the occupational disability
program as set forth in section (e) above are in lieu of the
disability program heretofore provided for under Section 64.301 to
64.308 of the TMRS Act.
Section 2. This ordinance shall become effective on the
first day of January, 1988, provided that it has previously been
determined by the Actuary for the System that all obligations of
the City to the municipality accumulation fund, including
obligations hereby undertaken, can be funded by the City within
its maximum contribution rate and within its amortization period.
Passed on first reading this the 13th day of October, 1987.
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Passed and approved and final reading this the 27th day of
October, 1987.
E.V. RIDLEHUBER, Mayor
ATTEST:
er
APPROVED AS TO CONTENT:
NORMAN HUGGINS, ~i~fector of Finance
APPROVED AS TO FORM:
DAVID BLACKBURN, Assistant City Attorney
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