Tennessee Code 49-1548 – Reduction of disability allowance because of ability to engage in gainful occupation
Terms Used In Tennessee Code 49-1548
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Average final compensation: means the average annual earnable compensation of a member during the five (5) consecutive years of the member's creditable service affording the highest such average, or during all of the years in the member's creditable service if less than five (5) years. See Tennessee Code 8-34-101
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person, persons or institution receiving a retirement allowance or other benefit as provided in chapters 34-37 of this title. See Tennessee Code 8-34-101
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
- Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
- Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
- State: means the state of Tennessee. See Tennessee Code 8-34-101
- State annuity: means annual payments for life derived from contributions by an employer. See Tennessee Code 8-34-101
Should the medical board report and certify to the board of trustees that such disability beneficiary is engaged in or is able to engage in a gainful occupation, paying more than the difference between his retirement allowance and his average final compensation, and should the board of trustees concur in such report, then the amount of his state annuity shall be reduced to an amount which, together with his teacher annuity and the amount earnable by him, shall equal the amount of his average final compensation. Should his earning capacity be later changed, the amount of his state annuity may be further modified; provided, that the new state annuity shall not exceed the amount of the state annuity originally granted nor an amount which, when added to the amount earnable by the beneficiary together with his teacher annuity, equals the amount of his average final compensation. A beneficiary restored to active service at a salary less than the average final compensation shall not become a member of the retirement system.