Ord 1980-059 - Laserfiche WebLink

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for initial membership in the System, shall become a member of the System' at the effe~tiveodate of this ordinance, unless he has already become a member under other provisions of the governing act, and shall be allowed prior service credit for each month of creditable service performed for this municipality subsequent to the date such person was precluded from membership and prior to the effective date of his membership~ Such prior service credit shall be cal- culated using the same percentage of the base prior service credit as was most recently used in calculating I Prior Service Credits or Updated Service Credits in said System for current member employees of this City. (e) The rights, credits, and benefits hereinabove authorized shall be in addition to the plan provisions heretofore adopted and in force at the effective date of this ordinance pursuant to the Act governing said System. SECTION 2. That section 2-38 of the Code of Ordinances, City of San Marcos, Texas, is hereby amended to read as follows: Section 2..,38. In accordance with the provisions of said act the deposits required to be made to the Texas Municipal Retirement System by employees of the several participa- tinq departwents O~ account of current servir.e shall be calculated on the full amount of such person's earnings as an employee of the city. SECTION 3. That section 2-43 of the Code of Ordinances, City of San Marcos, Texas, is hereby amended to read as follows: Section 2-43. Credits. Revised Allowance of Updated Service I On the terms and conditions set out in Section XVII of Article 6243h, Vernon's Texas Civil Statutes, as amended, each member of the Texas Municipal Retirement System who on the 1st day of January, 1981 has credit- able service in said System arising out of employment with the City of San Marcos prior to the first day of the year preceeding the date last above-mentioned shall be and is hereby granted an "Updated Service Credit" (as that term is defined in said Act) that is 100% of the "Base Updated Service Credit" of the member, cal- culated as provided in said Act. The Updated Service Credits herein granted shall be effective from and after January 1, 1981, and shall be in lieu of and in substitution for all prior service credits and/or updated service credits previously allowed such member. SECTION 4. That section 2-44 of the Code of Ordinances, City of San Marcos, Texas, is hereby amended to read as follows: Section 2-44. Revised Increases in Annuities in Effect. I (a) Pursuant to Section XVIII of Article 6243h, Vernon's Texas Civil Statutes, as amended, the City of San Marcos hereby elects to allow and to provide for payment of the increases below specified in all monthly benefits pay- able by Texas Municipal Retirement System after the 1st day of January, 1981 to retired employees and to benefi- ciaries of deceased employees of this City under current