Loading...
STATE RETIREMENT PROGRAM
On behalf of the city, the City Commission hereby exercises its option and elects to have the city and all full-time and part-time employees of all departments participate in the State Municipal Retirement System as provided in Tex. Gov’t Code §§ 851.001 et seq., and all of the benefits and obligations of the System are hereby accepted.
(1998 Code, § 90-221)
Each person who becomes a full-time and/or a part-time employee of any participating department on or after the effective date of participation of the department shall be included within and subject to the provisions of the State Municipal Retirement System beginning upon the date the person becomes an employee, as defined in Tex. Gov’t Code § 851.001(8).
(1998 Code, § 90-222)
The city may in the future refuse to add new departments or new employees to the State Municipal Retirement System, but shall never discontinue as to any participants.
(1998 Code, § 90-223)
Statutory reference:
Similar provisions, see Tex. Gov’t Code § 852.006(a)
For each month of current service rendered by each of its employees who are members of the State Municipal Retirement System, the city will contribute to the current service annuity reserve of each such member at the time of his or her retirement, a sum that is 200% of the member’s accumulated deposits for such month of employment; and this sum shall be contributed from the city’s account in the Municipality Current Service Accumulation Fund.
(1998 Code, § 90-224)
Statutory reference:
Authority, see Tex. Gov’t Code § 855.501(b)
The Director of Finance or other proper official is hereby directed to remit to the Board of Trustees of the State Municipal Retirement System, at its office in Austin, Texas, the city’s proper contributions to the System and the amounts which shall be deducted from the compensation or payroll of employees, all as required by such Board under the provisions of Tex. Gov’t Code §§ 855.402 et seq., and the Director of Finance is hereby authorized and directed to ascertain and certify officially, on behalf of the city, the prior service rendered to the city by each of the employees of the participating departments, and the average prior service compensation received by each, and to make and execute all other reports and certificates which may be required by the city under the provisions of Tex. Gov’t Code §§ 845.401 through 845.406 or the rules and regulations of the Board of Trustees of the State Municipal Retirement System.
(1998 Code, § 90-225)
The total annual earnings which may be paid by the city to any of its employees who are members of the State Municipal Retirement System shall be considered in calculating the amount to be withheld and the deposits and contributions to be made to the State Municipal Retirement System by reason of current service rendered by the employee to the city.
(1998 Code, § 90-226)
All employees of the city who are members of the State Municipal Retirement System shall make deposits to the system at the rate of 7% of their individual earnings. However, this rate shall not be applied to earnings in excess of the maximum earnings subject to retirement deductions as fixed by ordinance.
(1998 Code, § 90-227)
Any employee of the city who has attained the age of 60 years with five years vesting, or has completed 20 or more years of creditable service for which he or she is entitled to credit in the State Municipal Retirement System, shall be eligible for service retirement as provided in Tex. Gov’t Code § 854.102(b). Any such employee who shall have completed 20 years or more of creditable service or attains the age of 60 years and has five years vesting as an employee of the city shall continue as a member of the State Municipal Retirement System despite subsequent absence from service for a period in excess of 60 months; provided, he or she does not withdraw his or her deposits during the absence, and shall be eligible for retirement upon and after attainment of the minimum age prescribed by Tex. Gov’t Code § 854.102(b).
(1998 Code, § 90-228)
Loading...