§ 2-57. Increased municipal contributions to current service annuity service.

Effective January 1, 1984, for each month of current service thereafter rendered by each of its employees who are members of the Texas Municipal Retirement System, the city will contribute to the current service annuity reserve of each such member at the time of his or her retirement, a sum that is one hundred fifty (150) percent of such member's accumulated deposits for such month of employment; and said sum shall be contributed from the city's account in the municipality accumulation fund.

(Ord. No. 1389, 11-7-83)

Editor's note

Ord. No. 1389, adopted Nov. 7, 1983, did not specifically amend the Code, hence codification herein as § 2-57 was at the discretion of the editor.