HomeMy WebLinkAboutOrdinance - 2900-1959 - Prescribing The Maximum Earnings Texas Municipal Retirement System - 09/10/1959de
0.9-10-1959
ORDINANCE NO. 2900
AN ORDINANCE PRESCRIBING THE MAXIMUM EARNINGS TO BE CONSIDERED
IN CALCULATING DEPOSITS AND CONTRIBUTIONS TO BE MADE BY REASON
OF CURRENT SERVICE OF EMPLOYEES OF TIDS CITY WHO ARE MEMBERS
OF THE TEXAS MUNICIPAL RETIREMENT SYSTEM; DECLARING EMERGENC
AND PROVIDING EFFECTIVE DATE.
WHEREA~ the employees of the City of Lubboc~ as members of Texas Muni
cipal Retirement System·11, have elected to increase the Current S,rvice deposit to I
be withheld from each employee1 and, .
WHEREAS. as provided by law it is necessary that monthly contributions be
made by deductions from the salaries of such employees• an~
WHEREAS-a this measure affects the daily operation of the various municipal
departments of the City of Lubbock and thereby creates an emergency requiring
the immediate passage of this ordinance NOW THEREFORE,.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
SEC'l'ION 1. That annual earnings in excess of $6) 000 which may be paid by
the City of Lubbock~ Texas to any of its employees who are members of the Texa
Municipal Retirement System1 shall not be considered in calculating the amount
to be withheld and the deposits and contributions to be made to The Texas Muni-
cipal Retirement System by reason of Current Service rendered by such employe
to this City; and the maximum amount which shall be deducted each month for
Current Service deposits to said System (where such compensation is paid on a
monthly basis) shall exclude payments in excess of one ... twelfth (1/12.th) of the
afore-said sum of $6,000 which is prescribed above as the maximum annual earn-
ings to be taken into account in calculating deposits and contributions on account jl
of Current Service.
SECTION 2.. That the terms and provisions of this ordinance affects the usua~'
daily operation of the mwlicipal departments of this City and thereby creates an
emergency requiring that it be passed and become effective immediately and the
same is hereby declared to be an emergency and the charter provisions requirin
that all ordinances be read on two separate occasions is hereby suspended and
the terms and provisions of this ordinance shall become effective immediately o
the passage .hereof.
AND IT IS SO ORDERED
On motion of Commissioner Casey ., seconded by Com
missioner Thompson ~ the above and foregoing Ordinance was
unanimously passed by the City Commission this lOth day of Seotember
19 59 •
ATTEST:
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