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to this City. An annuity increased under this Section replaces any annuity or increased annuity <br />previously granted to the same person. <br />(b) That the amount of the annuity increase under this Section is computed as the sum of <br />the prior service and current service annuities on the effective date of retirement of the person on <br />whose service the annuities are based, multiplied by 70% of the percentage change in Consumer <br />Price Index for All Urban Consumers, from December of the year immediately preceding the <br />effective date of the person's retirement to the December that is 13 months before the effective <br />date of this ordinance. <br />(c) That an increase in an annuity that was reduced because of an option selection is <br />reducible in the same proportion and in the same manner that the original annuity was reduced. <br />(d) That if a computation hereunder does not result in an increase in the amount of an <br />annuity, the amount of the annuity will not be changed hereby. <br />(e) That the amount by which an increase under this Section exceeds all previously granted <br />increases to an annuitant is an obligation of this City and of its account in the municipality <br />accumulation fund of the System. <br />Section 3. That subject to approval by the Board of Trustees of Texas Municipal <br />Retirement System, the updated service credits and increases in retirement annuities granted <br />hereby sha11 be and become effective on the lst day of January, 2005. <br />Section 4. That this ordinance sha11 be effective October 1, 2004. <br />PASSED AND ADOPTED this 9th day of September, 2004. <br />Curtis Fendley, Mayor <br />ATTEST: <br />Sherian Dixon, Assistant City Clerk <br />APPROVED AS TO FORM: <br />Larry W. Schenk, City Attorney <br />