§ 15-92. Participation in supplemental benefits fund.

(a)

The city, by its city council hereby elects to have the employees of all participating departments of the city 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)

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/her employment be covered into the supplemental benefits fund of said system. The city may in the future refuse to add new departments or new employees to said fund, but shall never discontinue as to any member who are covered into the fund.

(c)

The director of finance 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 per centum of the earnings of the employees of said city who are covered under the fund; and such official shall make for the city such reports as the board of trustees of the Texas Municipal Retirement System may prescribe.

(d)

Participation of the above mentioned employees in the Supplemental Benefits Fund shall become effective the first day of December, 1982.

(Ord. of 11-8-82, §§ 1, 3—5)