Prior to 1983, the federal government allowed states and local government entities to opt out of the social security system. The city does not participate in social security.
(Ordinance 2015-09-00821 adopted 9/3/15)
The city participates in the Texas Municipal Retirement System for all fulltime employees. Specific ordinances providing for participation in the Texas Municipal Retirement System, as adopted by the city, are not included in this article, but they are hereby specifically saved from repeal and shall be maintained in the office of the city secretary.
(Ordinance 2015-09-00821 adopted 9/3/15)
Any employee who is not eligible to participate in the Texas Municipal Retirement System must participate in the deferred compensation plan 457B, at a rate of 7.5% as required by the IRS since the city does not participate in social security. The city does not contribute to a deferred compensation plan 457B. This product is also available as a supplemental retirement program for all members who participate in the Texas Municipal Retirement System. Specific ordinances providing for participation in the deferred compensation plan 457B, as adopted by the city are not included in this article, but they are hereby specifically maintained in the office of the city secretary.
(Ordinance 2015-09-00821 adopted 9/3/15)
The city adopted a length of service award program for volunteer firefighters in June of 2015. Specific ordinances providing for participation in the length of service award program (LOSAP), as adopted by the city are not included in this article, but they are hereby specifically maintained in the office of the city secretary.
(Ordinance 2015-09-00821 adopted 9/3/15)