Statutes, codes, and regulations
Tennessee Administrative Code
Title 1700 - TreasurySubtitle 1700-03 - Division of Tennessee Consolidated Retirement System
Chapter 1700-03-01 - Tennessee Consolidated Retirement System
Section 1700-03-01-.15 - LUMP SUM PAYMENTS FOR LEAVE OR COMPENSATORY TIME

Tenn. Comp. R. & Regs. 1700-03-01-.15

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Current through January 8, 2025
Section 1700-03-01-.15 - LUMP SUM PAYMENTS FOR LEAVE OR COMPENSATORY TIME

If a member, upon termination of employment, is compensated for the member's unused accumulated leave or compensatory time in a lump sum, no retirement contributions are to be submitted and no retirement credit will be granted for that payment. The purpose of this rule is to prevent an artificial inflation of an employee's average final compensation upon which the employee's retirement benefit calculation will be based.

Tenn. Comp. R. & Regs. 1700-03-01-.15

Original rule filed June 30, 1981; effective August 19, 1981. Repeal by Public Chapter 575; effective July 1, 1986. New rule filed August 16, 1996; effective December 27, 1996.

Authority: T.C.A. §§ 8-34-313 and 8-34-101(14).