Tennessee § 8-27-802 Establishment of investment trusts for purpose of pre-funding other post-employment benefits - Investment of trust funds

Tennessee Statutes

§ 8-27-802 — Establishment of investment trusts for purpose of pre-funding other post-employment benefits - Investment of trust funds

Tennessee § 8-27-802

Title8

This text of Tennessee § 8-27-802 (Establishment of investment trusts for purpose of pre-funding other post-employment benefits - Investment of trust funds) 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. § 8-27-802 (2026).

Text

(a)The trustees shall establish an investment trust or trusts for the purpose of pre-funding other post-employment benefits accrued by employees of the state, to be paid as they come due in accordance with the arrangements between the state, the plan members, and their beneficiaries. The trustees may, in their discretion, also choose to establish an investment trust or trusts for the purpose of pre-funding other post-employment benefits accrued by authorized employees of local education agencies, to be paid as they come due in accordance with the arrangements between the local education agency, the plan members, and their beneficiaries.

(b)The trustees must adopt, in writing, an investment policy or policies authorizing how assets in the trust or trusts may be invested.

(c)The trust or

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(a) The trustees shall establish an investment trust or trusts for the purpose of pre-funding other post-employment benefits accrued by employees of the state, to be paid as they come due in accordance with the arrangements between the state, the plan members, and their beneficiaries. The trustees may, in their discretion, also choose to establish an investment trust or trusts for the purpose of pre-funding other post-employment benefits accrued by authorized employees of local education agencies, to be paid as they come due in accordance with the arrangements between the local education agency, the plan members, and their beneficiaries. (b) The trustees must adopt, in writing, an investment policy or policies authorizing how assets in the trust or trusts may be invested. (c) The trust or trusts may invest in any security or investment in which the Tennessee consolidated retirement system is permitted to invest; provided, that investments by the trust shall be governed by the investment policies and guidelines adopted by the trustees in accordance with this part. The trustees shall delegate to the state treasurer the responsibility for the investment and reinvestment of trust funds in accordance with the policies and guidelines established by the trustees. (d) The trust must conform to all applicable laws, rules, and regulations of the Internal Revenue Service, if any.