(A) On behalf of the city, the Board of Commissioners hereby exercises its option and elects to have the city and all of the employees of all departments, now existing, or hereafter established, participate in the Texas Municipal Retirement System as provided in Chapter 75, Acts of the 50th Legislature, as amended, (Art. 6243h, V.T.C.S.); and all of the benefits and obligations of such system are hereby accepted as to such employees.
(B) The City Manager is hereby directed to notify the Board of Trustees of the Texas Municipal Retirement System that the city has elected to participate and have the employees of all city departments participate in that system.
(C) Each person who becomes an employee of any department on or after the effective date of participation of such department shall become a member of the Texas Municipal Retirement System as a condition of his employment. The city may in the future refuse to add new departments or new employees to such system, but shall never discontinue as to any participants.
(D) In accordance with the provisions of the statute, the deposits to be made to the Texas Municipal Retirement System on account of current service of the employees of the several participating departments are hereby fixed at the rate of 3% of the earnings of each employee of those departments, and in determining the deposits to be made on account of such service the maximum earnings of this city is full salary.
(E) The City Clerk is hereby directed to remit to the Board of Trustees of the Texas Municipal Retirement System, at its office in Austin, Texas, the city's contributions to the system and the amounts which shall be deducted from the compensation or payroll of employees, all as required by the Board of Trustees under the provisions of Chapter 75, Acts of the 50th Legislature of the State of Texas, as amended. The City Clerk is authorized and directed to ascertain and certify officially on behalf of the city, the prior service rendered to the municipality by each of the employees of the participating departments, and the average prior service compensation received by each, and to make and execute all prior service certifications and all other reports and certifications which may be required of the City of Burkburnett, Texas, under the provisions of Chapter 75, Acts Regular Session, 50th Legislature, as amended, or in compliance with the rules and regulations of the Board of Trustees of the Texas Municipal Retirement System.
(Ord. 307, passed 3-1-71)
(F) Pursuant to Section 855.407(g) 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.
(Ord. 559, passed 11-17-97)
(G) Pursuant to the provisions of Section 854.202(g) of the TMRS Act, 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 20 years of credited service in the System performed for one or more municipalities that have adopted a like provision under Section 854.202(g) of the TMRS Act.
(Ord. 570, passed 4-19-99)
(H) Pursuant to the provisions of §§ 854.105 and 854.202, § 854.405 of Subtitle G of Title 8, Government Code, as amended, which subtitle shall herein be referred to as the "TMRS Act," the City of Burkburnett Texas, adopts the following provisions affecting participation of its employees in the Texas Municipal Retirement System (which retirement system shall herein be referred to as the "System"):
(1) An employee of the city who is a member of the System may terminate employment and remain eligible to retire and receive a service retirement annuity at any time after that member attains an applicable age and service requirement if that member has at least five years of credited service performed for one or more municipalities that have authorized eligibility under § 854.202(c) of the Act or are subject to § 854.102(e) of the Act.
(2) An employee of the city who is a member of the System may retire and receive a service retirement annuity if that member is at least 60 years old and has at least five years of creditable service performed for one or more municipalities that either have authorized eligibility under this subsection or are subject to § 854.102(e) of this subtitle.
(3) The rights, credits, and benefits hereinabove authorized shall be in addition to the plan provisions heretofore adopted and in force at the effective date of this division pursuant to the TMRS Act.
(I) The Board of Commissioners elects not to provide five-year vesting under Section 854.205 of the TMRS Act, and the city is hereby authorized and directed to file notice of this election with the Board of Trustees of the System before December 31, 2001.
(Ord. 628, passed 11-19-01; Am. Ord. 978, passed 8-17-2020)