Tenn. Code § 8-36-907

Current through Acts 2023-2024, ch. 1069
Section 8-36-907 - Service retirement allowance as an annuity
(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.

T.C.A. § 8-36-907

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