Tennessee § 8-35-223 Douglas-Cherokee economic authority

Tennessee Statutes

§ 8-35-223 — Douglas-Cherokee economic authority

Tennessee § 8-35-223

Title8

This text of Tennessee § 8-35-223 (Douglas-Cherokee economic authority) 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. § 8-35-223 (2026).

Text

(a)The Douglas-Cherokee economic authority shall be eligible to be a participating employer in the Tennessee consolidated retirement system upon:

(1)Passage of a resolution by the authority's board of directors authorizing an actuarial study; and (2) Passage of a resolution by the authority's board of directors authorizing such participation and accepting the liability as a result of the participation by its full-time employees.

(b)The employees of the authority shall make the same contributions, participate in the same manner, and shall be eligible for the same benefits as employees of local governments participating in the retirement system under this part.

(c)The employees shall be entitled to credit for prior service as approved by the board of directors of the authority under the

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(a) The Douglas-Cherokee economic authority shall be eligible to be a participating employer in the Tennessee consolidated retirement system upon: (1) Passage of a resolution by the authority's board of directors authorizing an actuarial study; and (2) Passage of a resolution by the authority's board of directors authorizing such participation and accepting the liability as a result of the participation by its full-time employees. (b) The employees of the authority shall make the same contributions, participate in the same manner, and shall be eligible for the same benefits as employees of local governments participating in the retirement system under this part. (c) The employees shall be entitled to credit for prior service as approved by the board of directors of the authority under the same provisions which apply to employees of local governments. (d) The retirement system shall not be liable for the payment of retirement allowances or other payments on account of employees of the authority or their beneficiaries, for which reserves have not been previously created from funds contributed by the authority and/or its employees. (e) It is the legislative intent that the state shall realize no increased cost as a result of this section. All costs associated with retirement coverage, including administrative costs, shall be the responsibility of the authority.