Tennessee Code 49-1551 – Benefits allowable on military service
Terms Used In Tennessee Code 49-1551
- Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member, together with any amount transferred to the account of the member established pursuant to chapters 34-37 of this title from the respective account of the member under one (1) or more of the superseded systems, with interest thereon, as provided in §. See Tennessee Code 8-34-101
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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
- Regular interest: means interest at such rate or rates compounded annually as may be set from time to time by the board of trustees in accordance with §. 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
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
Any teacher who on or after July 1, 1945, was a member of the armed forces or other organization designated in § 49-1517, during a period of national emergency mentioned therein, shall, at the time of retirement, be entitled to have his accumulated contributions increased by the contributions he would have made, on the basis of the salary received by him during his first year of teaching service after his return thereto, for the period ensuing until the date of his honorable discharge, together with regular interest to the date of his retirement, and he shall be entitled to a state annuity equal to the additional teacher annuity thereby provided. The cost of such additional annuities shall be provided by an increase in the accrued liability contribution otherwise required under the provisions of §§ 49-1527 – 49-1531.