Tennessee Code 65-164 – Actuary as technical advisor – Biennial consultation – Fee – Determination of actuarial requirements
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Terms Used In Tennessee Code 65-164
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
The board of trustees shall consult an actuary at least each biennium who shall be the technical advisor to the board on matters regarding the operation of the public service commissioners’ retirement fund and shall perform such other duties as are required by the board in connection with the public service commissioners’ retirement system as established by §§ 65-151 – 65-168. The fee for his services shall be paid from income received on investments of the fund. The actuarial requirements of the public service commissioners’ retirement system shall be determined so that contributions and/or appropriations to the fund will meet current actuarial liabilities and amortize all unfunded accrued actuarial liabilities by 1999.