Tennessee § 8-36-307 Group 2 members - Eligibility and computation of allowance

Tennessee Statutes

§ 8-36-307 — Group 2 members - Eligibility and computation of allowance

Tennessee § 8-36-307

Title8

This text of Tennessee § 8-36-307 (Group 2 members - Eligibility and computation of allowance) 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. § 8-36-307 (2026).

Text

(a)Any member in Group 2 who is employed by a political subdivision and who elected to come under § 8-36-201(b)(2)(A) shall be eligible for early service retirement upon completion of twenty (20) years of service regardless of age. Any member retiring under this section shall be entitled to receive a reduced retirement allowance based on the member's age which is the actuarial equivalent of the benefit provided in § 8-36-206 at fifty-five (55) years of age. This section must be approved by the chief governing body of the employing political subdivision within ninety (90) days of July 1, 1984.

(b)Any member in Group 2, who is employed by a political subdivision and who elected to come under § 8-36-201(b)(2)(A) , shall be eligible for early service retirement upon completion of twenty (20)

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(a) Any member in Group 2 who is employed by a political subdivision and who elected to come under § 8-36-201(b)(2)(A) shall be eligible for early service retirement upon completion of twenty (20) years of service regardless of age. Any member retiring under this section shall be entitled to receive a reduced retirement allowance based on the member's age which is the actuarial equivalent of the benefit provided in § 8-36-206 at fifty-five (55) years of age. This section must be approved by the chief governing body of the employing political subdivision within ninety (90) days of July 1, 1984. (b) Any member in Group 2, who is employed by a political subdivision and who elected to come under § 8-36-201(b)(2)(A) , shall be eligible for early service retirement upon completion of twenty (20) years of service regardless of age. Any member retiring under this section shall be entitled to a retirement allowance reduced by four-tenths of one percent (0.4%) for each month for which the member's date of early retirement precedes such member's service retirement date. This subsection (b) must be approved, along with acceptance of the associated liability, by the chief governing body of the employing political subdivision within ninety (90) days of July 1, 1986.