Tennessee Code 65-158 – Powers of board – Service without compensation – Reimbursement for expenses – Immunity for good faith actions
Terms Used In Tennessee Code 65-158
- Attorney general: means the attorney general and reporter and any assistant thereto by whatever name known, any district attorney general and any assistant thereto by whatever name called, and any officer or full-time employee of the general assembly or any committee thereof established by statute, who is duly licensed to practice law in Tennessee, whose duty it is to provide facilities for drafting bills or to assist individual legislators in drafting bills or who renders legal advice and services to the members of the general assembly or committees thereof. 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
Subject to the administrative duties reserved by state law to the state treasurer with respect to all state retirement systems, the board of trustees shall have complete control of the administration of the public service commissioners’ retirement system, subject to the provisions of §§ 65-151 – 65-168, with all powers necessary to enable it to carry out properly its duties in that respect. The members of the board shall serve without compensation as board members but shall be reimbursed for actual expenses incurred by them in the performance of their duties. The board shall be fully protected with respect to any action taken or suffered by the board in good faith and reliance upon any table, valuation, certificate, report, advice or opinion furnished by any consultant or actuary, opinions given by the state attorney general or an assistant thereof, or the advice of any qualified investment consultant, and all action so taken or suffered by the board shall be conclusive upon each member of the board and upon all commissioners or persons interested in the public service commissioners’ retirement system.