The initial allowance of updated service credit is effective on January 1, 2005, subject to approval by the Board of Trustees of the System. An allowance of updated service credits and an increase in retirement annuities shall be made on January 1 of each subsequent year until the ordinance codified in this section and § 33.05 ceases to be in effect under Tex. Government Code, § 853.404(e), provided that, as to such subsequent year, the actuary for the System has made the determination set forth in Tex. Government Code, § 853.404(d).
(Ord. 348, passed 3-21-2013)