§ 14-31. Contributions to current service annuity reserve.

Latest version.

For each month of current service 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 retirement, a sum that is one hundred fifty (150) percent of such member's accumulated deposits for such month of employment, and such sum shall be contributed from the city's account in the municipality current service accumulation fund.

(Ord. of 11-9-81)

State law reference

Current service annuity reserve fund generally, V.T.C.S., Title 110B, § 65.309; increased current service annuities, V.T.C.S., Title 110B, § 65.501.

                    
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