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(1) Any plan of consolidation shall require continuation of a local retirement system for all officers, teachers and other employees who elect to remain in the system.(2) The plan shall also provide:
(A) For continuation of the local retirement system for new officers, teachers and other employees; or(B) For a new retirement system or coverage under the Tennessee consolidated retirement system for all new officers, teachers and other employees and those present officers, teachers and other employees who elect to be transferred to the other system.(b) No plan of consolidation adopted under this part shall in any way abridge, diminish or impair any tenure right or sick leave right that an officer, teacher or other employee may have earned during service in any component system.(c) Any plan of consolidation shall guarantee that the salary schedule under which the teachers and other employees of a component part of any consolidated school system were employed shall continue to apply for the teachers and other employees, and no such salary schedule may be lower than it was prior to consolidation. The plan shall provide that within three (3) years after the establishment of the new consolidated school system, a new salary schedule shall be established for the consolidated school system, which shall be no lower than the highest salary schedule maintained by a component part of the system prior to the establishment of the new consolidated school system.
