§ 2-242. Retirement eligibility.

Effective January 1, 1988, pursuant to the provisions of Vernon's Ann. Civ. St. Title 110B, §§ 62.105, 64.202, 64.204, 64.405, 64.406, and 64.410, the city adopts the following provisions affecting participation of its employees in the Texas Municipal Retirement System:

(1)

An employee of the city who is a member of the system may terminate employment and remain eligible to retire and receive a service retirement annuity at any time after that member attains an applicable age and service requirement, if that member has at least ten (10) years of credited service performed for one (1) or more municipalities that have authorized eligibility under Vernon's Ann. Civ. St. Title 110B, § 64.202(c) or are subject to § 64.102(e) of such act.

(2)

An employee of the city who is a member of the system may retire and receive a service retirement annuity if that member is at least sixty (60) years old and has at least ten (10) years of creditable service performed for one (1) or more municipalities that either have authorized eligibility under this subsection or are subject to Vernon's Ann. Civ. St. Title 110B, § 64.102(e).

(3)

Any employee of this city who is a member of the system is eligible to retire and receive a service retirement annuity, if the member has at least twenty-five (25) years of credited service in that system performed for one (1) or more municipalities that have participation dates after September 1, 1987, or have adopted a like provision under Vernon's Ann. Civ. St. Title 110B, § 64.202(e).

(4)

If a vested member, as that term is defined in Vernon's Ann. Civ. St. Title 110B, § 64.204(b) of the TMRS Act, shall die before becoming eligible for service retirement and leaves surviving a lawful spouse whom the member has designated as beneficiary entitled to payment of the member's accumulated contributions in event of the member's death before retirement, the surviving spouse may by written notice filed with the system elect to leave the accumulated deposits on deposit with the system subject to the terms and conditions of such § 64.204(b). If the accumulated deposits have not been withdrawn before such time as the member, if living, would have become entitled to service retirement, the surviving spouse may elect to receive, in lieu of the accumulated deposits, an annuity payable monthly thereafter during the lifetime of the surviving spouse in such amount as would have been payable had the member lived and retired at that date under a joint and survivor annuity (Option 1) payable during the lifetime of the member and continuing thereafter during the lifetime of the surviving spouse.

(5)

At any time before payment of the first monthly benefit of an annuity, a surviving spouse to whom (4) above applies may, upon written application filed with the system, receive payment of the accumulated contributions standing to the account of the member in lieu of any benefits otherwise payable under this section. If such a surviving spouse shall die before payment of the first monthly benefit of an annuity allowed under this section, the accumulated contributions credited to the account of the member shall be paid to the estate of such spouse.

(6)

Any employee of this city who is a member of the system and who performed service for this city prior to September 1, 1987, (for which service that employee did not receive credit with the system because the employee was not at that time a member of the system due to his age at the date of his employment) is hereby granted service credit with the system for all of such service (performed after the date of his latest employment by the city) that is prior to September 1, 1987, for which the employee has not previously received credit with the system, pursuant to Vernon's Ann. Civ. St. Title 110B, § 62.105.

(7)

The rights, credits and benefits 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.

(8)

Any employee of this city who is a member of the system is eligible to retire and receive a "standard occupational disability annuity" under Vernon's Ann. Civ. St. Title 110B, § 64.408 or an "optional occupational disability retirement annuity" under Vernon's Ann. Civ. St. Title 110B, § 64.410 upon making application therefor upon such form and in such manner as may be prescribed by the board of trustees:

a.

That the member is physically or mentally disabled for further performance of the duties of the member's employments;

b.

That the disability is likely to be permanent; and

c.

That the member should be retired.

Any annuity granted under this subsection shall be subject to the provisions of Vernon's Ann. Civ. St. Title 110B, § 64.409.

(9)

The provisions relating to the occupational disability program as set forth in (8) above are in lieu of the disability program heretofore provided for under Vernon's Ann. Civ. St. Title 110B, §§ 64.301 through 64.308.

(Ord. No. 3-87, § 1, 7-13-87)