SB3279 - Tennessee: Pensions And Retirement Benefits, Public Employees

Companion Bill HB3361. Pensions and Retirement Benefits - Authorizes the chair of the TCRS board to implement an automatic deferred or tax-sheltered compensation plan. - Amends TCA Title 8, Chapter 25, Part 1. Fiscal Summary for *SB3279 / HB3361Increase State Expenditures - $868,100/General Fund $165,400/Highway Fund and Other Dedicated Funds Other Fiscal Impact - Increase Federal/Other Expenditures - $310,500 Bill Summary for *SB3279 / HB3361 This bill authorizes the chair of the consolidated retirement board, with the concurrence of the commissioner of finance and administration, to implement an automatic deferred or tax-sheltered compensation plan, subject to funding. Such plan would provide that any person who becomes a full-time state employee on or after the implementation date of the plan, including a full-time employee [...]

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