2009M43-TMRS Service Contributions by the City ORDINANCE N0.09-M-43
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS ELECTING FOR THE CITY TO MAKE CURRENT
SERVICE AND PRIOR SERVICE CONTRIBUTION TO THE CITY'S
ACCOUNT IN THE MUNICIPAL ACCUMULATION FUND OF THE
TEXAS MUNICIPAL RETIREMENT SYSTEM AT THE ACTUARIALLY
DETERMINED RATE OF TOTAL EMPLOYEE COMPENSATION.
WHEREAS, the City of Schertz (the "City"), is a participating municipality in the Texas
Municipal Retirement System (the "System"), and has undertaken to provide certain retirement,
death and disability benefits to its employees pursuant to Subtitle G, Title 8, Government Code,
(hereinafter, the "TMRS Act"); and
WHERAS, the City Council desires to authorize funding of such benefits as herein
provided: now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS:
SECTION I
Pursuant to Section 855.407(8) of the TMRS Act, the City hereby elects to make
future normal and prior service contributions to its account in the municipal
accumulation fund of the System at such combined rate of the total compensation
paid by the City to employees who are members of the System, as the System's
actuary shall annually determine as the rate necessary to fund, within the
amortization period determined as applicable to the City under the TMRS Act, the
costs of all benefits which are or may become chargeable to or are to be paid out
of the City's account in said accumulation fund, regardless of other provisions of
the TMRS Act limiting the combined rate of City Contributions.
SECTION II
The provisions of the ordinance shall become effective on the first day of January 2010.
SECTION III
This Ordinance shall be effective on final passage and any publication provided bylaw.
Passed and approved on first reading the 3rd day of ovember, 2009.
PASSED, APPROVED AND ADOPTED is 10th da f November, 2009.
M yor, City Schertz, Texas
~ST:
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Brenda Dennis, TMRC, CMC City Secretary
Ordinance 09-M-43