Title
Consider adopting Ordinance No. 3900 authorizing the addition of restricted prior service credit to the City’s offering under the Texas Municipal Retirement System (TMRS); and take appropriate action.
Body
BACKGROUND:
The Texas Municipal Retirement System (TMRS) allows participating municipalities to adopt provisions that enhance employee retirement benefits. One such provision is the addition of restricted prior service credit, which recognizes prior service for employees who worked in other qualifying public service positions. Under TMRS rules, municipalities may adopt restricted prior service credit through a city ordinance.
DISCUSSION:
This item was brought before the City Council during the Study Session at the January 21, 2025, meeting, and direction was given to move forward with offering the additional restricted prior service credit under the Texas Municipal Retirement System.
FISCAL IMPACT:
1. No Financial Impact
DISTRICT:
NA
POSSIBLE COUNCIL ACTION:
1. I move to approve Ordinance No. 3900 as presented.
2. I move to approve Ordinance No. 3900 with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENT(S):
1. Ordinance No. 3900
2. Cities offering restricted prior service credit