§ 74-12. Same—Service retirement annuity.

Latest version.

(a)

Any employee of the city who is a member of the system is eligible to retire and receive a service retirement annuity if the member has at least 20 years of credited service in the system performed for one or more municipalities that have adopted a like provision under V.T.C.A., Government Code § 854.202(g) of the TMRS act.

(b)

Prior to adopting this ordinance, the governing body of the city has: (1) prepared an actuarial analysis of member retirement annuities at 20 years of service; and (2) held a public hearing pursuant to the notice provisions of the Texas Open Meetings Act, V.T.C.A., Government Code ch. 551.

(c)

The rights 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 TMRS act.

(Ord. No. O-96-066-01, § 1, 9-23-96)

                    
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