09081959 Regular Meeting - Laserfiche WebLink

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g" f) I AN ORDINANCE PROVIDII-X3 FOR PARTICIPATION IN THE SUPPLEMENTAL BENEFITS FUND OF THE TEXAS MUNIDIPAL RETIREMENT SYSTEM BY ALL DEPARTMHITS OF THE CITY GOVERNMENT WHICH NOW PARTICIPATE IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM; AND PROVIDIN3 FOR PAYMEm OF THE CITY'S COlITRI- BUTTONS ON ACCOUNT OF SUCH PARTICIPATION. WHEREAS, the governing body of the City of San Marcos, Texas has heretofore elected to have the employees of designated departments of the city government participate in the Texas Municipal Retirement System (such departments being hereinbefore called "participating departments"), and WHEREAS, Ghapter 312, Acts Regular Session, 56th Legislature provides for establishment in said System of a Supplemental Benefits Fund to provide for additional disability benefits for service con- nected disabilities, and WHEREAS, the governing body of the City of San Marcos, Texas I finds that it will be in the public interest to provide for partici~ pat ion of employees of such departments in said Supplemental Bene- fits Fund; Now, therefore, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF SAN MARCOS, TEXAS: Section 1. The City of San Marcos, Texas, by its Governing Body hereby elects to have the employees of all participating departments of said city (as above defined) participate in and be covered by the Supplemental Benefits Fund of the Texas Municipal Retirement System, as provided by Chapter 312, Acts Regular Session, 56th Legislature; and all the benefits and obligations of participation in said Fund are hereby accepted by the city as to such employees. Section 2. The City Manager is hereby directed to notify the I Board of Trustees of the Texas Municipal Retirement System that the City of San Marcos, Texas, has elected to participate and have the employees of the above mentioned departments participate in the Supplemental Benefits Fund of said System.