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<br /> <br />ORDINANCE NO. _ 07 -M-47, <br /> <br />TMRS-USC T R <br /> <br />TEXAS MUNICIPAL RETIREMENT SYSTEM <br /> <br />AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT <br />GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED <br />SERVICE CREDITS" IN SAID SYSTEM ON AN ANNUAL BASIS FOR SERVICE <br />PERFORMED BY QUALIFYING MEMBERS OF SUCH SYSTEM WHO AT THE <br />EFFECTIVE DATE OF THE ALLOWANCE ARE MEMBERS OF THE CITY OF <br />SCHERTZ; AND ESTABLISHING AN EFFECTIVE DATE FOR THE <br />ORDINANCE. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS: <br /> <br />Authorization of Updated Service Credits. <br /> <br />(a) On the terms and conditions set out in Sections 853.401 through 853.404 of <br />Subtitle G of Title 8, Government Code, as amended, (hereinafter referred to as the "TMRS <br />Act"), each member of the Texas Municipal Retirement System (hereinafter referred to as the <br />"System") who has current service credit or prior service credit in the System in force and <br />effect on the 1 st day of January of the calendar year preceding such allowance, by reason of <br />service in the employment of the City (hereinafter called the "City") and on such date had at <br />least 36 months of credited service with the System, shall be and is hereby allowed" Updated <br />Service Credif' (as that term is defined in subsection (d) of Section 853.402 of the TMRS Act). <br /> <br />(b) On the terms and conditions set out in Section 853.601 of the TMRS Act, any <br />member of the System who is eligible for Updated Service Credits on the basis of service with <br />this City, who has unforfeited credit for prior service anellor current service with another <br />participating municipality or municipalities by reason of previous service, and was a <br />contributing member on the 1 st day of January of the calendar year preceding such allowance <br />shall be credited with Updated Service Credits pursuant to, calculated in accordance with, and <br />subject to adjustment as set forth in said Section 853.601, both as to the initial grant <br />thereunder and all future grants under this ordinance. <br /> <br />(c) The Updated Service Credit hereby allowed and provided for shall be 100% of <br />the "base Updated Service Credit" of the member (calculated as provided in subsection (c) of <br />Section 853.402 of the TMRS Act). <br /> <br />(d) Each Updated Service Credit allowed hereunder shall replace any Updated <br />Service Credit, prior service credit, special prior service credit, or antecedent service credit <br />previously authorized for part of the same service. <br />