(a) On the terms and conditions set out in V.T.C.A., Government Code, § Subch. E, Ch. 853, each member of the Texas Municipal Retirement System having current service credit or prior service credit in the system in force and effect on January 1, 1976, by reason of service in the employment of the city is allowed "updated service credit" (as that term is defined in the act) in an amount that is 100 percent of the base updated service credit of the member, calculated as provided by law. The updated service credit allowed is in lieu of and in substitution for all prior service credits, special prior service credits, and antecedent service credits, if any, heretofore allowed such member by reason of service with the city. made to the Texas Municipal Retirement System by employees of the several participating departments on account of current service will be calculated from and after the date aforesaid on the full amount of their earnings as an employee of the city. (c) Subject to approval of the board of trustees of the Texas Municipal Retirement System, the updated service credits granted become effective on January 1, 1976. (Code 1974, § 2-20; Ord. No. 1577, § 19, 8-1-2006) State law references: Updated service credits, Vernon's Ann. Civ. St. Tit. 110B, § 63.401 et seq. Sec. 2-21. Supplemental death benefits fund. (a) The city elects to participate in the supplemental death benefits fund of the Texas Municipal Retirement System to provide in-service death benefits for each of the city's employees who are members of the system, and to provide post-retirement death benefits for annuitants whose last covered employment was as an employee of the city, in the amounts and on the terms provided for in V.T.C.A., Government Code, §§ 852.004, 854.601--854.605, 855.314, 855.408 and 855.502. (b) The city is authorized and directed to notify the director of the system of adoption of this section and of the participation of the city in such fund. (c) Participation of the above-mentioned employees and annuitants in the supplemental death benefits fund becomes effective on March 1, 1984. (Ord. No. 428, §§ 1--3, 2-21-84; Ord. No. 1577, § 19, 8-1-2006) |
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