§ 2-55. Supplemental benefits fund.

(a)

The City of Waxahachie, Texas, by its city council, hereby elects to have the employees of all participating departments of said city (as above defined) participate in and be covered by the supplemental benefits fund of the Texas Municipal Retirement System, as provided by Chapter 312, Acts Regular Session, 56th Legislature; and all the benefits and obligations of participation in said fund are hereby accepted by the city as to such employees.

(b)

The city manager is hereby directed to notify the Board of Trustees of the Texas Municipal Retirement System that the City of Waxahachie, Texas, has elected to participate and have the employees of the above-mentioned departments participate in the supplemental benefits funds of said system.

(c)

Each person who becomes an employee of any participating department on or after the effective date of participation of such department in said fund shall as a condition of his employment be covered into the supplemental benefits fund of said system. The City of Waxahachie, Texas, may in the future refuse to add new departments or new employees to said fund, but shall never discontinue as to any members who are covered into the fund.

(d)

The city secretary is hereby directed to remit monthly to the Board of Trustees of the Texas Municipal Retirement System at its office in Austin, Texas, as the city's contributions to the Supplemental Benefits Fund of the Texas Municipal Retirement System, such percentage of earnings of the above-mentioned employees of said city as may be fixed by the Board of Trustees of the Texas Municipal Retirement System, provided that the rate of contribution to said fund shall not exceed one-half of one percentum of the earnings of the employees of said city who are covered under said fund; and such official shall make for the city such reports as the Board of Trustees of the Texas Municipal Retirement System may prescribe.

(e)

Participation of the above-mentioned employees and annuitants benefits shall be effective on January 1, 1982.

(Ord. No. 1333, §§ 5—8, 11, 10-5-81)