§ 16-41. Initial coverage under retirement system.

(a)

The city council, on behalf of the city, hereby exercises its option and elects to have the city and all of the employees of all departments now existing and those hereafter created participate in the Texas Municipal Retirement System as provided in the Act, and all of the benefits and obligations of such system are hereby accepted as to such employees.

(b)

Each person who becomes an employee of any participating department on or after the effective date of participation of such department shall become a member of the system as a condition of such person's employment.

(c)

In accordance with the provisions of the statute, the deposits to be made to the system on account of current service of the employees of the several participating departments are hereby fixed at the rate of five percent of the full earnings of each employee of said departments.

(d)

Each employee who qualifies for such credit shall be allowed "Prior Service Credit" (as defined in V.T.C.A., Government Code § 853.105) at the rate of 100 percent of the "Base Prior Service Credit" of such member, calculated in the manner prescribed in said Act.

(e)

For each month of current service rendered to this city by each of its employees who are members of the system, the city will contribute to the current service annuity reserve of each such member at the time of such members retirement, a sum that is 200 percent of such member's accumulated deposits for such month of employment; and said sum shall be contributed from the city's account in the municipality current service accumulation fund.

(f)

The city secretary is hereby directed to remit to the board of trustees of the system, at its office in Austin, Texas, the city's contributions to the system and the amounts which shall be deducted from the compensation or payroll of employees, all as required by said board under the provisions of the Act, and the city secretary is hereby authorized and directed to ascertain and certify officially on behalf of the city the prior service rendered to the municipality by each of the employees of the participating departments, and the average prior service compensation received by each, and to make and execute all prior service certifications and all other reports and certifications which may be required of the city under the provisions of the Act, or in compliance with the rules and regulations of the board of trustees of the system.

(g)

Participation of the above mentioned employees in the system shall become effective on April 1, 1981.

(Ord. No. 149, §§ 1—8, 3-30-1981; Code 1983, § 16-41)