08-091 - OTMRS-20
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ORDINANCE NO. 08-091 .
TEXAS MUNICIPAL RETIREMENT SYSTEM
AN ORDINANCE AFFECTING PARTICIPATION OF TOWN
EMPLOYEES IN THE TEXAS MUNICIPAL RETIREMENT SYSTEM
GRANTING THE ADDITIONAL RIGHTS AUTHORIZED BY SECTION
854:202(g) OF TITLE 8, TEXAS GOVERNMENT CODE, AS AMENDED,
AND PRESCRIBING THE EFFECTIVE DATE FOR THE ORDINANCE.
BE IT ORDAINED BY THE TOWN .COUNCIL OF THE TOWN OF PROSPER, TEXAS:
Section 1. Pursuant to the provisions of Section 854.202(g) of Subtitle G of Title 8, Texas
Government Code, as amended, which Subtitle shall herein be referred to as the "TMRS Act," the Town
of Prosper, Texas, adopts the following provisions affecting participation of its employees in the Texas
Municipal Retirement System (herein referred to as the "System"):
(a) Any employee of the Town who is a member. of the System is eligible to retire' and
receive a service retirement annuity if the member has at least 20 years of credited service in the System
Performed for one or more municipalities that have adopted a like provision under Section 854.202(g) of
the TMRS Act.
(b) Prior to adopting this ordinance, .the governing body of the Town has: (1) prepared an
actuarial analysis of member retirement annuities at 20 years of service; and (2) held a public hearing
pursuant to the notice provisions of the Texas Open Meetings Act, Chapter. 551, Texas Government
Code.
(c) The rights hereinabove 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.
Section 2. This ordinance shall become effective on the 1st day of January 2009.
Passed and approved this the fourteenth day of October 2008.
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atthew D. Denton, TRMC ®fir m o
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