§ 8-36-907 — Service retirement allowance as an annuity

Tennessee § 8-36-907

• Jurisdiction: Tennessee
• Title: 8

Text

(a) Except as provided in §§ 8-36-908 and 8-36-909 , the service retirement allowance payable to a participant under § 8-36-906 shall consist of a member annuity which shall be the actuarial equivalent of the participant's accumulated contributions in the defined benefit component of the plan at retirement, plus a state annuity which, when added to the member annuity, shall be equal to: (1) In the case of a participant, other than those participants described in subdivision (a)(2), one percent (1.0%) of the participant's average final compensation, multiplied by the number of years of creditable service, unless reduced in accordance with § 8-36-921 or § 8-36-922 ; and (2) In the case of a participant who is the attorney general and reporter, a district attorney general, district public defender, or state judge, one and six-tenths percent (1.6%) of the participant's average final compensation, multiplied by the number of years of creditable service, unless reduced in accordance with § 8-36-921 or § 8-36-922 . (b) Section 8-36-124 shall not apply in determining the retirement allowance payable under this section.

Legislative History

Added by 2013 Tenn. Acts, ch. 259, s 1, eff. 7/1/2014.