OR 90-477 Employees who have terminated memberships in TMRS TMRS-H
ORDINANCE NO. 90477 (Rev. g/~9)
TEXAS/VlUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE ALLOWING CERTAIN EMPLOYEES OF
THE CITY WHO HAVE TERMINATED PREVIOUS
MEMBERSHIPS IN TEXAS MUNICIPAL RETIREMENT
SYSTEM~ TO DEPOSIT THE SUMS SO WITHDRAWN~ PLUS
ANNUAL WITHDRAWAL CHARGES~ AND ALLOWING
AND UNDERTAKING THE COST OF ALLOWING ANY
SUCH EMPLOYEE CREDIT IN SUCH SYSTEM FOR ALL
SERVICE TO WHICH SUCH EMPLOYEE HAD BEEN
ENTITLED AT DATE OF SUCH WITHDRAWAL~ WITH
LIKE EFFECT AS IF ALL SUCH SERVICE HAD BEEN
PERFORMED AS AN EMPLOYEE OF THIS CITY.
WHEREAS, the actuary of the Texas Municipal Retirement System has determined that
all obligations charged against the City~s account in the municipality accumulation fund,
including the obligations arising as a result of this ordinance, can be funded by the City
within its maximum contribution rate and within its amortization period; and
WHEREAS, the City Council has determined that adoption of this ordinance is in the
best interests of the City; now, there£ore,
BE IT ORDA1NED BY THE CITY COUNCIL OF THE CITY OF COPPELL~ TEXAS:
Section 1. Pursuant to Section 8~3.003 oi Subtitle G of Title 8, V.T.C.A, Government
Code~ as amendeci, the City of Coppelt hereby elects to allow any member of Texas Municipal
Retirement System who is an employee of this City on the 22 day of
May , 19 90 (1), who has ter~ninated a previous membership in said
System by withdrawal of deposits while absent £rom service, but who has at least 2z~ months
of credited service as an employee of this City since resuming membership to deposit with
the System in a lump sum the amount withdrawn, plus a withdrawal charge of five per cent
(~%) of such amount for each year from date of such withdrawal to date of redeposit, and
thereupon such member shall be allowed credit for all service to which the member had been
entitled at date of termination of the earlier membership~ with like effect as if all such
service had been rendered as a employee of this City~ whether so rendered or not. The City
of Coppell agrees to underwrite and hereby assumes the obligations arising out of the
granting of all such credit% and agrees that all such obligations and reserves required to
provide such credits shall be charged- to this City's account in the municipality accumulation
fund. The five per cent (~%) per annum withdrawal charge paid by the rnember shall be
deposited to the credit of the City's account in said municipality accumuiation fund; and the
deposits of the amount previously withdrawn by the member shall be credited to his or her
individual account in the employees saving fund of the System.
(1) TIffS DATE MAY NOT BE LATER THAN THE EFFECTIVE DATE OF THE ORDINANCE
TMRS-H (Continued) Page 2
::Ttier This ordinance shall become effective on the ,2-~Y day of
'* ~ ' 19 ~'0 which is a date on or aiter the date set $orth in
Secti ,
Passed and approved this the ~'~/ day of ~ 19 ~'Ct) ,
ATTEST: APPROVED: