93-055 ORD PROVIDING INCREASED MUNICIPAL CONTRIBUTIONS TO CURRENT SERVICE ANNUITY RESERVE AT RETIREMENT OF EMPLOYEES OF COP
URDINANCE N0. 93-055
AN ORDINANCE PROVIDtNG FOR INCREASED MUNICIPAL
CONTRIBUTIONS TO THE CURRENT SERVICE ANNUITY RESERVE AT
RETIREMENT OF THE EMPLOYEES OF THE CITY OF PARIS; AND
PROVIDING FOR AN EFFECTIVE DATE OF JANUARY l, 1994.
BE IT URUAINED BY THE CITY COUNCIL OF THE CITY OF PARIS:
Section 1. That efrective January 1, 1994, for each
month of current service thereafter rendered by each of its
employees who are members of the Texas Nlunicipal Retirement
System, the City will contribute to the current service
annuity reserve of each such niember at the time of his or her
retirement a sum that is 200% of such member's accumulated
deposits tor such month of employment; and said sum shall be
contributed from the City's account in the municipality
accumulation fund.
Section 2. Effective Date.
Subject to approval by the Board of Trustees of the
System, this ordinance shall be and become effective on the
lst day of .7anuary, 1994.
Passed and adopted this 22nd day of November, 1993.
4Grge`Fisher, Mayor
ATTEST :
Mattie Cunningham, Ci er
APPROVED A TO FORM:
T. K. ayries, City Attorney