Tennessee § 49-1530 Accrued liability contribution rate

Tennessee Statutes

§ 49-1530 — Accrued liability contribution rate

Tennessee § 49-1530

Title8

This text of Tennessee § 49-1530 (Accrued liability contribution rate) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 49-1530 (2026).

Text

Immediately succeeding the next valuation the actuary engaged by the board of trustees shall compute the rate per cent of the total annual earnable compensation of all members which is equivalent to four per cent (4%) of the amount of the total state annuity liability on account of all members and beneficiaries which is not dischargeable by the funds in hand standing to the credit of the accumulation account and the aforesaid normal contributions to be made on account of such members during the remainder of their active service. The rate per cent originally so determined, or as thereafter determined on the basis of actuarial valuation and certified by the board of trustees as a rate of contribution sufficient to discharge said amount prior to July 1, 1995, shall be known as the "accrued li

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Immediately succeeding the next valuation the actuary engaged by the board of trustees shall compute the rate per cent of the total annual earnable compensation of all members which is equivalent to four per cent (4%) of the amount of the total state annuity liability on account of all members and beneficiaries which is not dischargeable by the funds in hand standing to the credit of the accumulation account and the aforesaid normal contributions to be made on account of such members during the remainder of their active service. The rate per cent originally so determined, or as thereafter determined on the basis of actuarial valuation and certified by the board of trustees as a rate of contribution sufficient to discharge said amount prior to July 1, 1995, shall be known as the "accrued liability contribution" rate.

Legislative History

Acts 1945, ch. 29, § 8; 1947, ch. 112, § 1; C. Supp. 1950, § 2540.8 (Williams, § 2524.8); Acts 1955, ch. 153, § 5; 1961, ch. 62, § 13; 1971, ch. 152, § 8.