§ 74-5. Same—Special prior service.

Latest version.

Each person who is an employee of the city on December 31, 1970 and who at said date is a member of the Texas Municipal Retirement System and who holds in said system an effective prior service certificate granted by reason of service performed for this city prior to its participation in said system shall be allowed and is hereby granted, upon the terms and conditions prescribed by V.T.C.A., Government Code § 853.101 et seq., a "special prior service credit" in an amount equivalent to the accumulation at interest, as provided in said act, of a series of monthly payments of five percent of the member's "average prior service compensation" for the number of months of prior service certified to in such member's prior service certificate. The special prior service credit herein provided for shall be in addition to the prior service credit heretofore allowed such member.

(Ord. No. 657-C, § 2, 9-17-70; Code 1973, § 15-5)

                    
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