§ 49-1518 — Creditable service at retirement

Creditable service at retirement on which the retirement allowance of a member shall be based shall consist of the membership service rendered by him since he last became a member and also if he has a prior service certificate which is in full force and effect, the amount of service certified on his prior service certificate. The member may elect to have included as membership service after January 1, 1961, the time served during a legislative session as a member of the general assembly. Notwithstanding any other provisions to the contrary in this chapter, any member who retires on or after July 1, 1967, and who establishes evidence to the satisfaction of the board of trustees that he taught a total of ten (10) or more years in the public schools of Tennessee, some of which service was rendered prior to July 1, 1945, shall be entitled to have such service rendered prior to July 1, 1945, included as creditable service; provided further, that creditable service shall also include teaching service in the public schools of Tennessee after July 1, 1945, under any of the following conditions: (1) When a teacher's contributions are withdrawn but repaid to the retirement system with interest at six per cent (6%) per annum from the date of withdrawal of such contributions to the date of repayment, (2) when a member whose retirement account has become inactive because of too much absence from teaching service and his accumulated contributions have not been withdrawn but who pays to the retirement system six per cent (6%) interest per annum on his accumulated account from the date his account became inactive to the date of the reactivation of his account, or (3) when a teacher who failed to become a member of the retirement system by officially electing to be a nonmember, as provided in subsection 2 of § 49-1509, pays to the retirement system the total amount of all the contributions he otherwise would have contributed to the retirement system during said period of nonmembership, plus six per cent (6%) interest per annum for each year that funds normally would have been on deposit with the retirement system.

Legislative History

Acts 1945, ch. 29, § 4; C. Supp. 1950, § 2540.4 (Williams, § 2524.4); Acts 1963, ch. 250, § 1; 1967, ch. 251, § 8; 1970 (Adj. S.), ch. 389, § 1.