2004M33-TML-RETIREMENT11 Pill I I 1 11
(d) Each Updated Service Credit allowed hereunder shall replace any Updated Service Credit, prior servi
credit, special prior service credit, or antecedent service credit previously authorized for part of the sa
service.
(e) In accordance with the provisions of subsection (d) of Section 853.401 of the TIVIRS Act, the deposits
required to be made to the System by employees of the several participating departments • account of
current service shall be calculated from and after the effective date of this ordinance on the full amount of such
person's compensation as an employee of the City.
(a) On 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 the City under current service annuities and prior
service annuities arising from service by such employees to the City. An annuity increased under this Section
replaces any annuity or increased annuity previously granted to the same person.
(b) The amount of the annuity increase under this Section is computed as the sum of the prior service a
current service annuities on the effective date of retirement • the person on whose service the annuities a
`112-i
based, multiplied by 70% of the percentage change in Consumer Price Index for All Urban Consumers, fro
is 13 months before the effective date of this Section.
(c) An increase in an annuity that was reduced because of an option selection is reducible in the sa
proportion and in the same manner that the original annuity was reduced. I
(d) 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 hereunder.
(e) The amount by which an increase under this Section exceeds all previously granted increases to
annuitant is an obligation of the City and of its account in the municipality accumulation fund of the System.
NTAFFIFIVI��M 'I i LA
Increased Municipal Contributions- That effective January 1, 2005, for each month of current service
thereafter rendered by each of its employees who are members of the Texas Municipal Retirement System,
the City will contribute to the current service annuity reserve • each such member at the time • his or her
retirement, a sum that is 200% • such members accumulated deposits for such month of employment; and
said sum shall be contributed from the City's account in the municipality accumulation fund.
Subject to approval by the Board of Trustees of the System, this ordinance shall be and become effective on
the list day of January 2005.
Passed and approved this the day of
City Secretary of Clerk
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TEXAS MUNICIPAL RETIREMENT SYSTEM
'i i S I' i -v a s 1), N11 11, 1 c "5
Mr. Mark Marquez
City Manager
City of Schertz
P.O. Drawer I
Schertz, TX 78154
We are pleased to enclose a model ordinance for your city to adopt a:
2 to 1 City Matching Ratio
100% Updated Service Credits, including Transfers
70% of CPI Annuity Increases
c ely,
Eric W. Davis
LQ-
P. 0, Box 149153 - AUSTIN, TEXAS 78714-9153
PUBLISHER'S AFFIDAVIT
THE STATE OF TEXAS,
County of Guadalupe
publications being on the following dates:
00
and a newspaper copy of which is hereto attached.
Sworn to and subscribed before me this :2 day of
L9 AD., 2004.