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Council approves first reading of TMRS updated service‑credit changes over split vote
Summary
Manvel — On a 4–3 vote the City Council approved first reading of ordinances to adopt TMRS updated service‑credit provisions and increase the city’s employer contribution rate to accelerate catch‑up funding.
Manvel — On a 4–3 vote the City Council approved first reading of ordinances to adopt TMRS updated service‑credit provisions and increase the city’s contribution rate to accelerate catch‑up funding.
Finance director Rosie summarized staff analysis and TMRS valuations, telling council the city’s current employer contribution rate is near 8.2% — below the commonly intended 2-to-1 match on a 7% employee contribution — because prior staff turnover and withdrawals reduced the funded percentage. Staff said a temporary increase to roughly 17.58% would accelerate funding…
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