(a) The city, town, or county treasurer or trustee shall receive and retain on deposit to the credit of the public school teachers’ retirement fund each annual contribution made, as provided in this part, until the end of the fiscal year.
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Terms Used In Tennessee Code 49-5-914

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Trustee: A person or institution holding and administering property in trust.
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) At the end of the fiscal year the contributions shall be delivered to the board of trustees, who shall receipt the treasurer or county trustee for such delivery.
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