§ 34.02  UPDATED SERVICE CREDITS.
   (A)   Pursuant to Tex. Gov’t Code § 853.502, Subchapter F of Chapter 853, Title 8, as amended, the city hereby elects to allow eligible members in its employment to establish credit in the State Municipal Retirement System for active military service performed as a member of the armed forces or armed forces reserves of the United States or an auxiliary of the armed forces or armed forces reserves. ELIGIBLE MEMBERS, as used herein, shall be those employees meeting the criteria set forth in Tex. Gov’t Code §§ 853.502(b) and 853.503 of Subchapter F, and the amount and use of creditable military service shall be as further set forth in Tex. Gov’t Code § 853.505.
   (B)   In order to establish credit for military service hereunder, a member must deposit with the State Municipal Retirement System (in that member’s individual account in the Employees Saving Fund), an amount equal to the number of months for which credit is sought, multiplied by $15. The city agrees that its account in the Municipality Accumulation Fund is to be charged at the time of the member’s retirement with an amount equal to the accumulated amount paid by the member for military service credit, multiplied by the city’s current service matching ratio in effect at the date the member applies for the military service credit.
   (C)   This section shall become effective on 6-19-2001.
(Ord. 970930, passed 9-30-1997; Ord. 010619, passed 6-19-2001)