(a) Any other law to the contrary notwithstanding, a local board of education shall not be entitled to establish a local teacher retirement fund.
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Terms Used In Tennessee Code 8-35-318

  • board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
  • Local retirement fund: means any teachers' retirement fund or other arrangement for payment of retirement benefits to teachers, except this retirement system, supported wholly or in part by contributions made by an employer as defined by chapters 34-37 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
(b) Notwithstanding the foregoing, this section shall not affect the rights, benefits and privileges of teachers presently participating in a local retirement fund.
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