§ 49-5-901 Establishment of fund
§ 49-5-902 Rules and regulations
§ 49-5-903 “Teacher” defined
§ 49-5-904 Maximum annuity – Contribution rates
§ 49-5-905 Deficiencies in contributions
§ 49-5-906 Eligibility for benefits
§ 49-5-907 Retirement because of incapacity
§ 49-5-908 Insufficiency of fund to pay annuities
§ 49-5-909 Exemption of benefits from process – Nonassignability
§ 49-5-910 Board of trustees
§ 49-5-911 Rules of trustees – Quorum
§ 49-5-912 Delegation of duties by trustees
§ 49-5-913 Management and investment of fund
§ 49-5-914 Receipt and delivery of contributions
§ 49-5-915 Sinking fund – Purposes
§ 49-5-916 Deficiencies supplied from sinking fund

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Terms Used In Tennessee Code > Title 49 > Chapter 5 > Part 9 - Teachers' Local Retirement Systems

  • 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.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • 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.
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • teacher: means and includes any director of schools, assistant director of schools, principal, assistant principal, supervisor, assistant supervisor, persons in charge of any special department of instruction, and any teacher or instructor regularly employed as such by the school board of such city or county, town or district. See Tennessee Code 49-5-903
  • 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