§ 78-126. Retirement eligibility.

(a)

Any member, after one year from the effective date of membership, shall be eligible for service retirement if the member has attained the age of 50 years and has completed 25 years of creditable service with this city or has attained the age of 60 years and has completed at least ten years of creditable service with participating municipalities which have adopted the plan provisions of this section, or who has become eligible for service retirement under any other applicable provision of V.T.C.A., Government Code § 851.001 et seq.

(b)

This section shall become effective on the first day of the calendar month following enactment of the ordinance from which this section derives, provided it has previously been determined by the actuary for the system that the additional obligations undertaken can be funded within the period prescribed by the act above cited and will not result in probable depletion of this city's account in the prior service accumulation fund of the system.

(Code 1968, § 22-76.5)