HomeMy WebLinkAboutOrdinance No. 150 ORDINANCE NO. /~'~O
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, PROVIDING FOR
PARTICIPATION IN THE SUPPLEMENTAL BENEFITS FUND OF THE TEXAS MUNICIPAL
RETIREMENT SYSTEM BY ALL DEPARTMENTS OF THE CITY GOVERNMENT WHICH NOW
PARTICIPATE IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM; AND PROVIDING FOR
PAYMENT OF THE CITY'S CONTRIBUTIONS ON ACCOUNT OF SUCH PARTICIPATION.
WHERE~S, the governing body of the City of The Colony, Texas,
has heretofore elected to have the employees of all departments of the
city government participate in the Texas Municipal Retirement System
(such departments being hereinbefore called "participating departments"), and
WHEREAS, Chapter 312, Acts Regular Session, 56th Legislature
provides for establishment in said System of a Supplemental Benefits Fund
to provide for additional disability benefits for service connected
disabilities, and
WHEREAS, the governing body of the City of The Colony, Texas,
finds that it will be in the public interest to provide for participation
of employees of such departments in said Supplemental Benefits Fund; now,
therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE COLONY, TEXAS:
Section 1. The City of The Colony, Texas, by its City Council
hereby elects to have the employees of all participating departments of
said city (as above defined) participate in and be covered by the
Supplemental Benefits Fund of the Texas Municipal Retirement System, as
provided by Chapter 312, Acts Regular Session, 56th Legislature; and all
the benefits and obligations of participation in said Fund are hereby
accepted by the city as to such employees.
Section 2. The Mayor is hereby directed to notify the Board of
Trustees of the Texas Municipal Retirement System that the City of The
Colony, Texas, has elected to participate and have the employees of the
above mentioned departments participate in the Supplemental Benefits
Fund of said System.
Section 3. Each person who becomes an employee of any partici-
pating department on or after the effective date of participation of such
department in said Fund shall as a condition of his employment be covered
into the Supplemental Benefits Fund of said System. The City of The
Colony, Texas, may in the future refuse to add new departments or new
employees to said Fund, but shall never discontinue as to any members
who are covered into the Fund.
Section 4. The City Secretary is hereby directed to remit monthly
to the Board of Trustees of the Texas Municipal Retirement System at its
office in Austin, Texas, as the City's contributions to the Supplemental
Benefits Fu~ of the Texas Municipal Retirement System, such percentage
of earnings of the above-mentioned employees of said city as may be fixed
by the Board of Trustees of the Texas Municipal Retirement System, provided
that the rate of contribution to said Fund shall not exceed one-half of
one percentum (1/2%) of the earnings of the employees of said city who
are covered under said Fund; and such official shall make for the City
such reports as the Board of Trustees of the Texas Municipal Retirement
System may prescribe.
Section 5. Participation of the above mentioned employees in the
Supplemental Benefits Fu~ shall be effective April 1, 1981.
RD AND ySSED ON FIRST READING ON THE ~5 DaY OF
, l 81.
READ AND PASSED ON SECOND READING ON THE ~_~__ DAY OF
APPROVED:
DLrLy RECORDED:
APPROVED AS TO LEGALITY C_T/___ETA~YT~Z~CR
OF THE FORM: !/~
CITY ATTORNEY