§ 2-154. Authorization of updated service credits effective January 1, 1999

(a)

(1)

On the terms and conditions set out in V.T.C.A., Government Code §§ 853.401—853.403 (hereinafter referred to as the "TMRS Act"), each member of the Texas Municipal Retirement System (hereinafter referred to as the "system") who has current or prior service credit in the system in force and effect on January 1 of the calendar year preceding such service allowance, by reason of service in the employment of the city, and on such date has at least 36 months of credited service with the system, shall be and is hereby allowed "updated service credit," as such term is defined in V.T.C.A., Government Code § 853.402(d), in an amount that is 100 percent of the base updated service credit of the member, which shall be calculated as provided in V.T.C.A., Government Code § 853.402(c). 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.

(2) On the terms and conditions set out in V.T.C.A., Government Code § 853.601, any member of the system who is eligible for updated service credits on the basis of service with the city, and has unforfeited credit for prior service and/or current service with another participating municipality by reason of previous service, and was a contributing member on January 1 of the calendar year preceding such allowance, shall be credited with updated service credits pursuant to, calculated in accordance with, and subject to adjustment as set forth in V.T.C.A., Government Code § 853.601.

(3) In accordance with the provisions of V.T.C.A., Government Code § 853.401(d), 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 set forth in subsection (a)(2) of this section on the full amount of such person's earnings as an employee of the city.

(b) Subject to approval by the board of trustees of the system, the updated service credits granted by this section became effective January 1, 1999.

(Ord. No. 785, §§ 1, 2, 12-21-1998)