§ 2-60. Same—Remittance and rate of contribution.

(a)

The city secretary 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 (½) of one percentum of the earnings of the employees of said city who are covered under said fund; and such official shall make for the city such reports as the board of trustees of the Texas Municipal Retirement System may prescribe.

(b)

Participation of the above-mentioned employees in the Supplemental Benefits Fund shall be effective January 1, 1960, or on such later date as the board of trustees of the Texas Municipal Retirement System shall declare said fund to be operative.

(Ord. of 9-3-1963, § 4; Ord. No. 68-09, §§ 4, 5, 7-2-1968)

Note— See note following § 2-58.