§ 2-33.1. Allowance of updated service credits.

(a)

On the terms and conditions set out in V.T.C.A., Government Code § 853.401 et seq., as amended, each member of Texas Municipal Retirement System who has current service credit or prior service credit in said system in force and effect on the first day of January, 1977, by reason of service in the employment of the City of Pearland, shall be and is hereby allowed "updated service credit" (as that term is defined in said act) in an amount that is one hundred (100) per cent of the "base updated service credit" of the member, calculated as provided in said act. The updated service credit hereby allowed shall be in lieu of and in substitution for all prior service credits, special prior credits and antecedent service credits, if any, heretofore allowed such member by reason of service with the City of Pearland.

(b)

In accordance with the provisions of said act, the deposits required to be made to the Texas Municipal Retirement System by employees of the several participating departments on account of current service shall be calculated from and after the date aforesaid on the full amount of such person's earnings as an employee of the city.

(c)

Subject to approval of the board of trustees of the Texas Municipal Retirement System, the updated service credits hereby granted shall be and become effective the first day of January, 1977.

(Ord. No. 336, § 1, 12-27-76)

Editor's note

Ord. No. 336, § 1, adopted December 27, 1976, did not expressly amend the Code; hence, inclusion herein as § 2-33.1 is at the editor's discretion.