HomeMy WebLinkAboutORD 12.22.1980 - Plan Provisions To RetirementAF]'77,7 T(NiG PiON :1, 1M.- ltl
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ncl;s Z"ITY IN -N
AS At! T.i(_'itJZED 13"t- SZICT-OA T XX "IJ "Ji- AFITI-1- .�l r",
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VERNON'S TEXAS 11.1'� ij*Lto OTATUTEF,, i iV:,
t"LDE1110NAL EIC117S. BT" jtF
1'.;t.7j?_'H(M.1ZP,-D; PRO'.11"iNt'. THAT SUCH
SUPPLEMENTARY T"', .THOSE HERETOFORE A':L,t:.11'
AND THAT ARE IN FORCE AT THE RFt*.'er,CTP,#'F, 1,7
THIS ORDINANCE,- AND PRESCRIBING T'IiE
OF TI -IIS ORDINANCE.
_3E T7
T 0RDAJJN)_3r* BY TFE CITY COUNCIL (
Lection 1. Purjuent to Section XX ol' Article :.?a'' 17, %f f-*
as amended, ;lie City of Georgetown, aa-ik;tc6
c- s: or.L; af-.7ecting participation of its employees in the Tex -t,
-rene'nt System:
(a) Ea-zh person wh-5 bpcoines an emplcvne of zr./
e,,;w traert cl thiz City and who is not already a men.,,_or C" "
cl.pal ReCrernent System shall become a mem ':'.)ei a.7 tnf.,
o.1' pl:)vided such person is
.ftir ;-w (Ii year al onu
a-1 I L%t; el i- g J P) I e I&C r w e ry ct e retire r,- ant v i
q ,earQ a .,?
+1 �nd haQ
Y.. Acim Wi n s
th thi., irltic, 1.
V
1;, -6 ah, r +
L ko LA i,
of any meinbcr whc,
C'.' ab Le Se th?s
the plan prov,�
j�il ,
�ita'Lutes shz;1' ro:-
17 tto,.N i
ir
-111, is an of
l_- dF_k;e of
A ti_
q
w"z; At
tber presc-ibcd by law for
rr -t ineinber of tiv' Syste-n at tke
ittL- r.r.s already become a member under
1nd sitiali be allowed prior service credit ik coc;,..
-,r-rfornied for this municipality subsequent to tlb<: �ittat,.-_ 9--.
'In
r.ciudeL) froin membership anti 1-,rior to the effentiLve -1 h-,
prior oervi.ee credit shall be caiculated using tbf;-
,,zr Prior seri ttice cre,.i.t as wlpx most recent' yjeea i-. ctair,,j
arviz!e or Updattee Creiii.-s in sqAd 7, 7
',,TP0!k,1r1yeeS of this cit z.
'a, j e zigbts, i�):. nb' I Ak.-
?hall be in a diti•3T t!j the pian �.� � :.,:.:�� ::, ^� k 3:( ft �.., ac'_-t`d ^.n,. ,,, f_ c r
the effectty a (4.p*e thie :-dirP.r.e p:arsu;.. t *prn *� °• :-` . .,
Se,.t.i^c: s. '. ijs ordinance shall bec onze eGac.-Y,re )a *14., alis .'. .
the calend.. r. �nnnt: Yo?lowing its enactment, p vidt..t ;+.:ia.: previo•:R3� b ser
determines 5y 1:13 Actuary for the System that the additiv W otliga4.ic!,a .PI with under%kk,a can be funded withir, th,-! period pres-,;ribed by 'Iet
cited, and +.:.I r -)i -result in probable depletion of `hi
Px icr Seri .;ccur vIetion Fund of Syr ex
Pr.ssed ^ind approved. on f rst reading this the _ +h IaY Of
- .2E!& �� _ i 'I; and passed ar. f approve;' cn reae injo.:�-;i
00 AW ay -, _ _A �m 9RQ.
CO APFROVE :
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