Tennessee Code 17-533 – Changes in system
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Terms Used In Tennessee Code 17-533
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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
An amendment or repeal of any provision of this chapter shall be made only following an actuarial determination of its effect on the soundness of the system’s design as well as its effect on the cost of the system, and disclosure of such information to all interested persons. No amendment or repeal of a provision of this chapter shall affect in any way the benefits then being paid to members, retired members, or beneficiaries or benefits based on service completed prior to the date of such amendment or repeal, except as provided in § 17-534. Provided, however, that in determining such accrued benefits, average base earnings and average earnings shall be determined as of the date of the amendment or repeal, as the case may be.