HomeMy WebLinkAboutOrdinance No. 822 ORIGINAL
CITY OF THE COLONY, TEXAS
ORDINANCE NO. ffoq$1.
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF THE CITY
OF THE COLONY, TEXAS, WHO PERFORMED OR HEREAFTER
PERFORM ACTIVE SERVICE IN THE ARMED FORCES (OR THEIR
RESERVES OR AUXILIARIES) OF THE UNITED STATES UNDER
HONORABLE CONDITIONS, TO APPLY AND MAKE DEPOSITS FOR
AND TO RECEIVE SPECIAL CREDIT WITH THE TEXAS MUNICIPAL
RETIREMENT SYSTEM FOR LIMITED PORTIONS OF SUCH
MILITARY SERVICE, AND PROVIDING FOR PAYMENT BY THE
CITY OF ITS SHARE OF THE COSTS OF ALLOWING SUCH CREDITS;
ESTABLISHING AN EFFECTIVE DATE FOR THE ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY,
TEXAS:
Section 1. Pursuant to Section 853.502, Subchapter F of Chapter 853, Title 8,
Government Code as amended, the City of The Colony hereby elects to allow eligible
members in its employment to establish credit in the Texas Municipal Retirement System
for active military service performed as a member of the armed forces or armed forces
reserves of the United States or an auxiliary of the armed forces or armed forces reserves.
Eligible members as used herein shall be those employees meeting the criteria set forth in
Sections 853.502(b) and 853.503 of said Subchapter F, and the amount and use of creditable
military service shall be as further set forth in Section 853.505.
Section 2. In order to establish credit for military service hereunder, a member must
deposit with the Texas Municipal Retirement System (in that member's individual account
in the Employees Saving Fund), an amount equal to the number of months for which credit
is sought, multiplied by $15.00. The City agrees that its account in the Municipality
Accumulation Fund is to be charged at the time of the member's retirement with an amount
equal to the accumulated amount paid by the member for military service credit, multiplied
by the City's current service matching ratio in effect at the date the member applies for such
military service credit.
Section 2. This ordinance shall be effective on the 1st day of October 1993.
PASSED AND APPROVED this '~_~_0day of c~/St~ , 1993.
APPROVED:
ATTEST: William W. Manmng, Mayor
Patti A. Hicks, TRMC
City SecretaE¢
APPROV~ AS TO FORM:
City Attorney