§ 2-64. Authorization of updated service credits.

(a)

On the terms and conditions set out in section 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 first day of January of the calendar year preceding such allowance, by reason of service in the employment of the city, and on such date had at least thirty-six (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).

(b)

The updated service credit hereby allowed and provided for shall be one hundred (100) percent of the "base updated service credit" of the member (calculated as provided in subsection (c) of 853.402 of the TMRS Act.) If the city has previously adopted, or if it hereafter adopts an ordinance authorizing updated service credit for unforfeited credit for prior service or current service with any other participating municipality, the calculations and adjustments set forth in section 853.601 of the TMRS Act shall apply to any such transferred service.

(c)

Each updated service credit allowed hereunder 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.

(d)

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 effective date of this section on the full amount of such person's compensation as an employee of the city.

(Ord. No. 180-12-81, § 1, 12-15-81; Ord. No. 263-9-85, § 1, 9-3-85; Ord. No. 305-9-86, § 1, 9-16-86; Ord. No. 344-9-87, § 1, 9-15-87; Ord. No. 391-9-88, § 1, 9-6-88; Ord. No. 416-8-89, § 1, 8-1-89; Ord. No. 454-8-90, § 1, 8-7-90; Ord. No. 502-12-91, § 1, 12-17-91)