(a)
On
the terms and conditions set out in sections 853.305 of subtitle G
of title 8, Texas Government Code, as amended (hereinafter referred
to as the “TMRS Act”), each member of the Texas Municipal
Retirement System (hereinafter referred to as the “system”)
who is now or who hereafter becomes an employee of this city shall
receive restricted prior service credit for service previously performed
as an employee of any of the entities described in said section 853.305
provided that:
(b)
The
service credit hereby granted may be used only to satisfy length-of-service
requirements for retirement eligibility, has no monetary value in
computing the annuity payments allowable to the member, and may not
be used in other computations, including computation of updated service
credits.
(c)
A
member seeking to establish restricted prior service credit under
this article must take the action required under said section 853.305
while still an employee of this city.
(Ordinance 2017-24 adopted 5/9/17)
(a)
On the terms and conditions set out in sections 853.401 through 853.404 of subtitle G of title 8, Government Code, as amended (hereinafter referred to as the "TMRS Act"), each member of the Texas Municipal Retirement System (hereinafter referred to as the "system") who has current service credit or prior service credit in the system in force and effect on the 1st day of January of the calendar year preceding such allowance, by reason of service in the employment of the City of Celina, Texas (hereinafter called the "city") and on such date had at least 36 months of credited service with the system, shall be and is hereby allowed "updated service credit" (as that term is defined in subsection (d) of section 853.402 of the TMRS Act).
(b)
On the terms and conditions set out in section 853.601 of the
TMRS Act, any member of the system who is eligible for updated service
credits on the basis of service with this city, who has unforfeited
credit for prior service and/or current service with another participating
municipality or municipalities by reason of previous service, and
was a contributing member on the 1st day of January of the calendar
year preceding such allowance shall be credited with updated service
credits pursuant to, calculated in accordance with, and subject to
adjustment as set forth in said section 853.601, both as to the initial
grant thereunder and all future grants under this section.
(c)
The updated service credit hereby allowed and provided for shall be 100% of the "base updated service credit" of the member (calculated as provided in subsection (c) of section 853.402 of the TMRS Act).
(d)
Each updated service credit allowed hereunder shall replace
any updated service credit, prior service credit, special prior service
credit, or antecedent service credit previously authorized for part
of the same service.
(e)
The initial allowance of updated service credit hereunder shall be effective on January 1, 2023, subject to approval by the board of trustees of the system. An allowance shall be made hereunder on January 1st of each subsequent year until this section ceases to be in effect under subsection (e) of section 853.404 of the TMRS Act, provided that, as to such subsequent year, the actuary for the system has made the determination set forth in subsection (d) of section 853.404 of the TMRS Act.
(f)
In accordance with the provisions of subsection (d) of section 853.401 of the TMRS Act, the deposits required to be made to the system by employees of the several participating departments on account of current service shall be calculated from and after the effective date of this section on the full amount of such person's compensation as an employee of the city.
(Ordinance 2022-122 adopted 11/8/2022)
(a)
On the terms and conditions set out in section 854.203 of subtitle
G of title 8, Government Code, as amended (hereinafter referred to
as the "TMRS Act"), the city hereby elects to allow and to provide
for payment of the increases below stated in monthly benefits payable
by the system to retired employees and to beneficiaries of deceased
employees of the city under current service annuities and prior service
annuities arising from service by such employees to the city. An annuity
increased under this section replaces any annuity or increased annuity
previously granted to the same person.
(b)
The amount of the annuity increase under this section is computed
as the sum of the prior service and current service annuities on the
effective date of retirement of the person on whose service the annuities
are based, multiplied by 70% of the percentage change in Consumer
Price Index for All Urban Consumers, from December of the year immediately
preceding the effective date of the person's retirement to the December
that is 13 months before the effective date of the increase under
this section.
(c)
An increase in an annuity that was reduced because of an option
selection is reducible in the same proportion and in the same manner
that the original annuity was reduced.
(d)
If a computation hereunder does not result in an increase in
the amount of an annuity, the amount of the annuity will not be changed
hereunder.
(e)
The amount by which an increase under this section exceeds all
previously granted increases to an annuitant is an obligation of the
city and of its account in the benefit accumulation fund of the system.
(Ordinance 2022-122 adopted 11/8/2022)
(a)
On the terms and conditions set out in TMRS Act § 854.203
and § 853.404, the city authorizes and provides for payment
of the increases described by this section to the annuities paid to
retired city employees and beneficiaries of deceased city retirees
(such increases also called COLAs). An annuity increased under this
section replaces any annuity or increased annuity previously granted
to the same person.
(b)
The amount of the annuity increase under this section is computed
in accordance with TMRS Act § 853.404(f) as the sum of the
prior service and current service annuities, as increased in subsequent
years under TMRS Act § 854.203 or TMRS Act § 853.404(c),
of the person on whose service the annuities are based on the effective
date of the annuity increase, multiplied by 30% of the percentage
change in the Consumer Price Index for All Urban Consumers during
the 12-month period ending in December of the year that is 13 months
before the effective date of the increase under this section.
(c)
An increase in an annuity that was reduced because of an option
selection is reducible in the same proportion and in the same manner
that the original annuity was reduced.
(d)
If a computation under this section does not result in an increase
in the amount of an annuity, the amount of the annuity will not be
changed under this section.
(e)
In accordance with TMRS Act § 853.404(f-1)(2), an
increase under this section only applies with respect to an annuity
payable to a TMRS member, or their beneficiary(ies), which annuity
is based on the service of a TMRS member who retired, or who is deemed
to have retired under TMRS Act § 854.003, not later than
the last day of December of the year that is 13 months before the
effective date of the increase under this section.
(f)
The amount of an increase under this section is an obligation
of the city and of its account in the benefit accumulation fund of
the system.
(g)
The initial increase in annuities authorized by this section
shall be effective on January 1st immediately following the year in
which this section is approved, subject to receipt by the system prior
to such January 1st and approval by the board of trustees of the system
("board"). Pursuant to TMRS Act § 853.404, an increase in
retirement annuities shall be made on January 1st of each subsequent
year, provided that, as to such subsequent year, the actuary for the
system has made the determination set forth in TMRS Act § 853.404(d),
until this section ceases to be in effect as provided in TMRS Act
§ 853.404(e).
(Ordinance 2023-124 adopted 12/12/2023)
(a)
As authorized by TMRS Act § 854.203(h) and § 853.404,
and on the terms and conditions set out in TMRS Act §§ 853.401
through 853.404, the city authorizes each member of the system who
on the first day of January of the calendar year immediately preceding
the January 1st on which the updated service credits will take effect:
(1)
Has current service credit or prior service credit in the system
by reason of service to the city;
(2)
Has at least 36 months of credited service with the system,
and
(3)
Is a TMRS-contributing employee of the city, to receive "updated
service credit," as that term is defined and calculated in accordance
with TMRS Act § 853.402.
(b)
The city authorizes and provides that each employee of the city who (1) is eligible for updated service credits under subsection (a) above, and (2) who has unforfeited prior service credit and/or current service credit with another system-participating municipality or municipalities by reason of previous employment, shall be credited with updated service credits pursuant to, calculated in accordance with, and subject to adjustment as set forth in TMRS Act § 853.601 (also known as "Transfer USC"), both as to the initial grant and all future grants under this section.
(c)
The updated service credit authorized and provided under this
section shall be 100% of the "base updated service credit" of the
TMRS member calculated as provided in TMRS Act § 853.402.
(d)
Each updated service credit authorized and provided by this
section shall replace any updated service credit, prior service credit,
special prior service credit, or antecedent service credit previously
authorized for part of the same service.
(e)
The initial updated service credit authorized by this section shall be effective on January 1st immediately following the year in which this section is approved, subject to receipt by the system prior to such January 1st and approval by the system's board. Pursuant to TMRS Act § 853.404, the authorization and grant of Updated Service Credits in this Section shall be effective on January 1 of each subsequent year, using the same percentage of the "base updated service credit" stated in subsection (c) in computing updated service credits for each future year, provided that, as to such subsequent year, the actuary for the system has made the determination set forth in TMRS Act § 853.404(d), until this section ceases to be in effect as provided in TMRS Act § 853.404(e).
(Ordinance 2023-124 adopted 12/12/2023)
