File #: 25-4205    Version: 1 Name:
Type: Ordinance Status: Regular Hearing
File created: 7/30/2025 In control: City Council
On agenda: 9/8/2025 Final action:
Title: Consideration of an Ordinance of the Lewisville City Council Adopting Non-Retroactive Repeating Cost-Of-Living Adjustments for Retirees and Their Beneficiaries Under the Texas Municipal Retirement System Act ?853.404(f) and (f-1) and Authorizing Annually Accruing Updated Service Credits and Transfer Undated Service Credits; and Providing for Severability and an Effective Date.
Attachments: 1. HR1 Council Agenda Memo - TMRS, 2. Ordinance 2025.08.pdf
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title

Consideration of an Ordinance of the Lewisville City Council Adopting Non-Retroactive Repeating Cost-Of-Living Adjustments for Retirees and Their Beneficiaries Under the Texas Municipal Retirement System Act §853.404(f) and (f-1) and Authorizing Annually Accruing Updated Service Credits and Transfer Undated Service Credits; and Providing for Severability and an Effective Date.

 

request

ADMINISTRATIVE COMMENTS:

 

City staff introduced the potential change of Lewisville’s Texas Municipal Retirement System (TMRS) retiree COLA benefit from a retroactive calculation to a non-retroactive calculation during the City Council Workshop on June 16, 2025.  This proposed ordinance makes this change while maintaining the current COLA benefit at 70% and Updated Service Credit at 75%, effective January 1, 2026.

 

RECOMMENDATION:

 

That the City Council approve the ordinance as set forth in the caption above.

 

AVAILABLE FOR QUESTIONS:

 

Tadd Phillips, Director of Human Resources