CHAPTER NO. 1009
HOUSE BILL NO. 2577
By Representative Rhinehart
Substituted for: Senate Bill No. 2799
By Senator Rochelle
AN ACT to amend Tennessee Code Annotated, Section 8-36-208, relative to maximum benefits provided to certain members of the Tennessee Consolidated Retirement System.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 8-36-208(a), is amended by inserting the following language at the end of the subsection (a):
In the case of Group 1 members and Class C members of the superseded State retirement system, the service retirement allowance shall not exceed eighty percent (80%) of the member's average final compensation.
SECTION 2. The provisions of this act shall be subject to the funding being provided in the General Appropriations Act.
SECTION 3. This act shall take effect on July 1, 1998, the public welfare requiring it.
PASSED: April 29, 1998
APPROVED this 18th day of May 1998