SB3694 - Tennessee: Pensions And Retirement Benefits

Companion Bill HB4132. Pensions and Retirement Benefits - Increases state portion of insurance premiums for active and retired teachers. - Amends TCA Title 8, Chapter 27. Fiscal Summary for *SB3694 / HB4132Increase State Expenditures - Exceeds $20,000,000 Increase Local Expenditures* - Exceeds $2,000,000 Bill Summary for *SB3694 / HB4132 Present law authorizes the department of education to pay insurance benefits for eligible teachers and their dependents. The amount of the benefits is determined each year under the General Appropriations Act. Also, the state insurance committee is authorized to contribute to the cost of supplemental medical insurance for retirees not eligible for Medicare. The contribution level of participating retirees is based on years of service, as follows: (1) 30 or more years of service: the committee establishes [...]

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