§ 2-69. Additional rights.

Pursuant to the provisions of section 854.202(g) of Subtitle G of Title 8, Texas Government Code, as amended, which subtitle shall herein be referred to as the TMRS Act, the City of Gainesville, Texas, adopts the following provisions affecting participation of its employees in the Texas Municipal Retirement System (herein referred to as the "system"):

(a)

Any employee of the city who is a member of the system is eligible to retire and receive a service retirement annuity if the member has at least twenty (20) years of credited service in the system performed for one (1) or more municipalities that have adopted a like provision under section 854.202(g) of the TMRS Act.

(b)

Prior to adopting this ordinance, the governing body of the city has:

(1)

Prepared an actuarial analysis of member retirement annuities at twenty (20) years of service; and

(2)

Held a public hearing pursuant to the notice provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code.

(c)

The rights hereinabove authorized shall be in addition to the plan provisions heretofore adopted and in force at the effective date of this ordinance pursuant to the TMRS Act.

(Ord. No. 681-3-96, § 1, 3-19-96)

Editor's note

Ord. No. 681-3-96, adopted Mar. 19, 1996, did not specifically amend this Code; hence, codification of § 1 of said ordinance as § 2-69 herein was at the editor's discretion.