Tennessee Code 65-165 – Supplemental appropriations to fund – Advice to state treasurer of need – Publication of financial condition of fund
Terms Used In Tennessee Code 65-165
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Commissioner: means any person in office as a member of the public service commission, as prescribed by title 65, chapter 1, prior to June 30, 1996. 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
- 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
On or before the first day of January, next preceding each regular meeting of the general assembly, beginning on or after January 1, 1971, the board of trustees shall advise the state treasurer of the actuarial requirements of the public service commissioners’ retirement system and the treasurer shall certify to the commissioner of finance and administration the amount needed, if any, over and above the amount contributed by commissioners and the amounts of the continuing annual appropriation as set forth in § 65-163, to make the system actuarially sound as of that date. The commissioner of finance and administration shall include in the budget an amount equal to the amount certified to him by the treasurer, if any, in excess of the amount of the continuing annual appropriation as set forth in § 65-163, to be paid into the public service commissioners’ retirement fund. Any such further appropriations shall be paid out of the “motor vehicle account” and/or the “public utilities account” referred to in § 65-163, and no part of any such appropriation shall be paid out of the general funds or revenues of the state of Tennessee. A statement of the financial condition of the trust fund of the public service commissioners’ retirement fund shall be published by the board of trustees in an annual report to the treasurer.