Legislation Details

File #: 2024-400    Version: 1 Name:
Type: Ordinance Status: Agenda Ready
File created: 7/26/2024 In control: City Council
On agenda: 8/13/2024 Final action:
Title: CONSIDER ON FIRST READING ORDINANCE NO. 2024-15; AN ORDINANCE REGARDING THE CITY OF BOERNE’S TEXAS MUNICIPAL RETIREMENT SYSTEM BENEFITS: (1) ADOPTING NON-RETROACTIVE REPEATING COLAS, FOR RETIREES AND THEIR BENEFICIARIES UNDER TEXAS MUNICIPAL RETIREMENT SYSTEM ACT §853.404(f) and (f-1), AND (2) AUTHORIZING ANNUALLY ACCRUING UPDATED SERVICE CREDITS AND TRANSFER UPDATED SERVICE CREDITS; PROVIDING A CUMULATIVE CLAUSE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
Sponsors: Susan Finch
Attachments: 1. AIS.Adoption of Non Retroactive COLA wTMRS, 2. Ordinance No. 2024-15

Title

CONSIDER ON FIRST READING ORDINANCE NO. 2024-15; AN ORDINANCE REGARDING THE CITY OF BOERNE’S TEXAS MUNICIPAL RETIREMENT SYSTEM BENEFITS: (1) ADOPTING NON-RETROACTIVE REPEATING COLAS, FOR RETIREES AND THEIR BENEFICIARIES UNDER TEXAS MUNICIPAL RETIREMENT SYSTEM ACT §853.404(f) and (f-1), AND (2) AUTHORIZING ANNUALLY ACCRUING UPDATED SERVICE CREDITS AND TRANSFER UPDATED SERVICE CREDITS; PROVIDING A CUMULATIVE CLAUSE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

 

Recommendation

RECOMMENDED VERBIAGE FOR CITY COUNCIL ACTION:

Approve Or Deny Ordinance No. 2024-15, An Ordinance Regarding The City Of Boerne’s Texas Municipal Retirement System Benefits: (1) Adopting Non-Retroactive Repeating Colas, For Retirees And Their Beneficiaries Under Texas Municipal Retirement System Act §853.404(F) And (F-1), And (2) Authorizing Annually Accruing Updated Service Credits And Transfer Updated Service Credits; Providing A Cumulative Clause; Providing A Severability Clause; And Providing An Effective Date.

 

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