HB2534 - Tennessee - Employees, Public, Pensions And Retirement Benefits

Companion Bill SB2759. Pensions and Retirement Benefits - Improves retirement benefits of certain Tennessee public employees. - Amends TCA Section 8-36-124 and Title 8, Chapter 36, Part 7. Fiscal Summary for *HB2534 / SB2759Increase State Expenditures - $106,375,600/Annual Amortized Cost Increase Local Govt. Expenditures* - $38,982,700/Annual Amortized Cost Other Fiscal Impact - Increase Federal/Other Expenditures - $15,967,200/Annual Amortized Cost Bill Summary for *HB2534 / SB2759 Subject to funding, this bill provides increased benefits under the Tennessee consolidated retirement system (TCRS) for certain retired state employees. Under present law, if the recommended employer contribution rate for state employees and teachers is less than the rate in effect on June 30, 1993, the [...]

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