SB1424 - Tennessee: Education, Pensions And Retirement Benefits, Teachers, Principals And School Personnel

Companion Bill HB1434. Pensions and Retirement Benefits - Provides for reimbursement of retired teachers' insurance premiums in LEAs that do not participate in the state basic plan for LEA employees on the same basis as premiums for retired teachers in LEAs that do participate in the state basic plan. - Amends TCA Title 8, Chapter 27. Fiscal Summary for *SB1424 / HB1434Increase State Expenditures - $11,864,000 - FY07-08 Other Fiscal Impact - The increase to state expenditures estimated for this bill is expected to increase each year by the rate with which insurance premiums increase each year. Assuming 8% annual growth as suggested by the Division of Insurance, state expenditures would increase by approximately $12,813,000 for FY08-09. Bill Summary for *SB1424 / HB1434 Present law requires the local education insurance committee to approve a [...]

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