HB2987 - Tennessee: Pensions And Retirement Benefits

Companion Bill SB3045. Pensions and Retirement Benefits - Specifies that certain campus police officers are eligible for retirement on attaining age 55 and completing 25 years of creditable service. - Amends TCA Section 8-36-201. Fiscal Summary for HB2987 / *SB3045 Increase State Expenditures - $331,700/Annual Amortized Cost Bill Summary for HB2987 / *SB3045 Generally under the present law provisions governing the Tennessee Consolidated Retirement System, any member in Group 1 is eligible for service retirement upon attainment of 60 years of age or upon completion of 30 years of creditable service. However, any member in Group 1 who has creditable service in a Group 1 position covered by the mandatory retirement provisions of present law (such as state police officers is eligible for service retirement upon attainment of 55 years of age and [...]

show full description