SB3795 - Tennessee: Pensions And Retirement Benefits, State Employees

Companion Bill HB3391. Pensions and Retirement Benefits - Authorizes a deferred retirement option plan (DROP) for eligible employees under TCRS. - Amends TCA Title 8, Chapter 36, Part 8. Fiscal Summary for *SB3795 / HB3391Increase State Expenditures - $27,573,000 Annual Amortized Cost Increase Local Expenditures - $5,974,000* Annual Amortized Cost Exceeds $15,000,000/Permissive Other Fiscal Impact - Increase Federal/Other Expenditures: $6,204,000 Annual Amortized Cost Bill Summary for *SB3795 / HB3391 Under present law, any retired member or prior class member of the Tennessee consolidated retirement system (TCRS) and any retiree of a local retirement fund receiving benefits in accordance with present law may return to service temporarily in a position covered by the TCRS and continue to draw such person's [...]

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