2004-051-ORD AUTHORIZING/ALLOWING UNDER TMRS "UPDATED SERVICE CREDITS" ON ANNUAL BASIS
ORDINANCE NO. 2004-051
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS,
PARIS, TEXAS, AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM,
"UPDATED SERVICE CREDITS" IN SAID SYSTEM ON AN ANNUAL
BASIS FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF
SUCH SYSTEM WHO, AT THE EFFECTIVE DATE OF THE
ALLOWANCE, ARE IN THE EMPLOYMENT OF THE CITY OF PARIS;
PROVIDING FOR INCREASED PRIOR AND CURRENT SERVICE
ANNUITIES FOR RETIREES AND BENEFICIARIES OF DECEASED
RETIREES OF THE CITY; MAKING OTHER FINDINGS AND
PROVISIONS RELATED TO THE SUBJECT; ESTABLISIDNG AN
EFFECTIVE DATE FOR SUCH ACTIONS; AND PROVIDING AN
EFFECTIVE DATE OF TIDS ORDINANCE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
TEXAS:
Section 1. Authorization of Updated Service Credits.
(a) That on the terms and conditions set out in Sections 853.401 through 853.404 of
Subtitle G of Title 8, V.T.C.A. Government Code, as amended (hereinafter referred to as the
"TMRS Act"), each member of the Texas Municipal Retirement System (hereinafter referred to
as the "System") who has current service credit or prior service credit in the System in force and
effect on the 1st day of January of the calendar year preceding such allowance by reason of service
in the employment of the City of Paris, and on such date, had at least 36 months of credited
service with the System, shall be, and is hereby, allowed "Updated Service Credit" (as that term
is defined in subsection (d) of Section 853.402 of the TMRS Act) in an amount that is 100% of
the base "Updated Service Credit" of the member (calculated as provided in subsection (c) of
Section 853.402 of the TMRS Act). 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.
(b) That on the terms and conditions set out in Section 853.601 of the TMRS Act, any
member of the System who is eligible for Updated Service Credits on the basis of service with this
City who has unforfeited credit for prior service andlor current service with another participating
municipality or municipalities by reason of previous service, and was a contributing member on
the 1st day of January 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 said Section 853.601.
(c) That in accordance with the provisions of subsection (d) of Section 853.401 of the
TMRS Act, 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
aforesaid on the full amount of such person's earnings as an employee of the City.
Section 2. Increase in Retirement Annuities.
(a) That on the terms and conditions set out in Section 854.203 of the TMRS Act, the City
hereby elects to allow and to provide for payment of the increases below stated in monthly benefits
payable by the System to retired employees and to beneficiaries of deceased employees of this City
under current service annuities and prior service annuities arising from service by such employees
to this City. An annuity increased under this Section replaces any annuity or increased annuity
previously granted to the same person.
(b) That the amount of the annuity increase under this Section is computed as the sum of
the prior service and current service annuities on the effective date of retirement of the person on
whose service the annuities are based, multiplied by 70 % of the percentage change in Consumer
Price Index for All Urban Consumers, from December of the year immediately preceding the
effective date of the person's retirement to the December that is 13 months before the effective
date of this ordinance.
(c) That an increase in an annuity that was reduced because of an option selection is
reducible in the same proportion and in the same manner that the original annuity was reduced.
(d) That if a computation hereunder does not result in an increase in the amount of an
annuity, the amount of the annuity will not be changed hereby.
(e) That the amount by which an increase under this Section exceeds all previously granted
increases to an annuitant is an obligation of this City and of its account in the municipality
accumulation fund of the System.
Section 3. That subject to approval by the Board of Trustees of Texas Municipal
Retirement System, the updated service credits and increases in retirement annuities granted
hereby shall be and become effective on the pt day of January, 2005.
Section 4. That prior Ordinance No. 2004-036, adopted September 9,2004, shall be and
is hereby in all things repealed.
Section 5. That this ordinance shall be effective November 1, 2004.
PASSED AND ADOPTED this 11th day of October, 2004.
ATTEST:
~~
Sherian Dixon, Assistant City Clerk
APPROVED AS TO FORM: