Top Legislation - View All
Latest Action: 05/05/2008 - Referred to Finance Bill TextCompanion Bill SB3868. Pensions and Retirement Benefits - Authorizes the Ned McWherter Center for Rural Development to become a participating employer in the Tennessee Consolidated Retirement System, subject to the approval of the center's board of directors. - Amends TCA Title 34; Title 35; Title 36 and Title 37. Fiscal Summary for *HB3466 / SB3868 Increase State Expenditures - Not Significant Increase Local Govt. Expenditures - Not Significant Bill Summary for *HB3466 / SB3868 ON MAY 13, 2008, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 3466, AS AMENDED. AMENDMENT #1 rewrites this bill to authorize the Ned McWherter Center for Rural Development to become a participating employer in TCRS subject to the approval of the center's board of directors.
Latest Action: 05/01/2008 - Received from Senate, held on House desk. Bill TextCompanion Bill HB0462. Pensions and Retirement Benefits - Authorizes the Tennessee Consolidated Retirement System board of trustees to establish a policy to permit the retirement system to invest system assets in private equity. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36 and Title 8, Chapter 37. Fiscal Summary for *SB0330 / HB0462 MINIMAL Bill Summary for *SB0330 / HB0462 ON APRIL 29, 2008, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 330, AS AMENDED. AMENDMENT #1 rewrites this bill. This amendment authorizes the TCRS board of trustees to establish an investment policy to permit the retirement system to invest system assets in private equity. Private equity investments would be limited to domestic and international venture capital, corporate buyouts, mezzanine and distressed debt, [...] show full description
Bill TextGeneral Assembly, Directed Studies - Urges state treasurer to study feasibility of establishing voluntary retirement plan for small businesses in Tennessee that would offer 401(k) plans and other savings vehicles. - Fiscal Summary for *HJR1305Increase State Expenditures - Not Significant
Latest Action: 01/16/2008 - Passed second consideration, Referred to Senate Finance, Ways and Means Comm. Bill TextPensions and Retirement Benefits - Adds Operation Urgent Fury, Operation El Dorado Canyon, Operation Just Cause, Operation Desert Shield/Desert Storm, Operation Enduring Freedom, and Operation Iraqi Freedom to periods of armed conflict to which TCRS members are entitled to establish retirement credit without charge; broadens period of peacetime service for establishing additional six-month credit in TCRS from service performed between October 15, 1940, through May 7, 1975, to service performed between October 15, 1940 through end of hostilities in Iraq. - Amends TCA Title 8, Chapter 34, Part 6. Fiscal Summary for SB2663 / *HB2541Increase State Expenditures - $985,000 Annual Amortized Cost Increase Local Govt. Expenditures* - $388,000 Annual Amortized Cost Exceeds $1,000,000/Permissive Other Fiscal Impact - Increase Federal/Other Expenditures - $135,000 Annual Amortized Cost
Latest Action: 01/17/2008 - Passed second consideration, Referred to Senate Finance, Ways and Means Comm. Bill TextCompanion Bill HB2534. 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 SB2759 / *HB2534Increase 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 SB2759 / *HB2534 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 [...] show full description
Latest Action: 01/23/2008 - Passed second consideration, Referred to Senate Finance, Ways and Means Comm. Bill TextCompanion 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 [...] show full description
Latest Action: 01/28/2008 - Passed second consideration, Referred to Senate Finance, Ways and Means Comm. Bill TextPensions and Retirement Benefits - Increases from 3 percent to 4 percent maximum annual cost-of-living adjustment for retired employees. - Amends TCA Title 8, Chapter 36, Part 7. Fiscal Summary for SB3842 / *HB2498No Fiscal Summary for SB3842 / *HB2498
Latest Action: 04/29/2008 - Received from House, Passed first consideration Bill TextHighway Patrol - Authorizes retired highway patrol officers to work for local law enforcement agencies. - Amends TCA Title 4, Chapter 7. Fiscal Summary for *HB3281 / SB3555MINIMAL
Latest Action: 05/01/2008 - Engrossed; ready for transmission to House Bill TextCompanion Bill HB3813. Pensions and Retirement Benefits - Allows TCRS members to designate more than one person as beneficiary under certain circumstances. - Amends TCA Title 8, Chapter 36. Fiscal Summary for *SB3245 / HB3813 MINIMAL Bill Summary for *SB3245 / HB3813 ON MAY 1, 2008, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 3245, AS AMENDED. AMENDMENT #1 rewrites this bill. Present law requires a TCRS member to designate, upon retirement, only one person as beneficiary. This amendment adds that notwithstanding this requirement, members may, upon retirement and on or after the date determined pursuant to this amendment, name more than one person as beneficiary under one of the following options (which are the options that apply under present law for members who elect to convert the retirement allowance otherwise [...] show full description
Latest Action: 04/14/2008 - Received from Senate, held on House desk. Bill TextCompanion Bill HB3994. Pensions and Retirement Benefits - Authorizes certain local government employees to receive other retirement benefits such as life, dental, and vision insurance; bonds may be issued to fund such additional benefits. - Amends TCA Title 9, Chapter 21. Fiscal Summary for *SB3813 / HB3994 Increase Local Expenditures - Exceeds $1,000,000/Permissive Bill Summary for *SB3813 / HB3994 This bill allows a local government to issue revenue bonds for "certain unfunded other post-employment benefits" if such bonds are approved by the state funding board after receiving a recommendation by the state director of local finance. "Certain unfunded other post-employment benefits" means non-pension benefits paid on behalf of former employees or the former employee's beneficiaries after separation from service. The benefits include, but are not [...] show full description
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Latest Legislation - View All
Bill TextGeneral Assembly, Directed Studies - Urges state treasurer to study feasibility of establishing voluntary retirement plan for small businesses in Tennessee that would offer 401(k) plans and other savings vehicles. - Fiscal Summary for *HJR1305Increase State Expenditures - Not Significant
Latest Action: 02/20/2008 - Assigned to Subcommittee Budget of FW&M Bill TextPensions and Retirement Benefits - Authorizes designation of multiple beneficiaries upon retirement and removes requirement that TCRS member employee must select single beneficiary. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36 and Title 8, Chapter 37. Fiscal Summary for HB3966 / *SB4029 MINIMAL
Latest Action: 05/02/2008 - Placed on Calendar Calendar & Rules Committee for 05/06/2008 Bill TextCompanion Bill SB3813. Pensions and Retirement Benefits - Authorizes certain local government employees to receive other retirement benefits such as life, dental, and vision insurance; bonds may be issued to fund such additional benefits. - Amends TCA Title 9, Chapter 21. Fiscal Summary for HB3994 / *SB3813 Increase Local Expenditures - Exceeds $1,000,000/Permissive Bill Summary for HB3994 / *SB3813 This bill allows a local government to issue revenue bonds for "certain unfunded other post-employment benefits" if such bonds are approved by the state funding board after receiving a recommendation by the state director of local finance. "Certain unfunded other post-employment benefits" means non-pension benefits paid on behalf of former employees or the former employee's beneficiaries after separation from service. The benefits include, but are not [...] show full description
Latest Action: 04/14/2008 - Withdrawn. Bill TextCompanion Bill SB2704. Pensions and Retirement Benefits - Allows, under certain circumstances, a retired member of the consolidated retirement system to return to service in certain year-round positions while continuing to receive his or her retirement allowance. - Amends TCA Title 8, Chapter 36, Part 8. Fiscal Summary for HB4008 / *SB2704Increase State Expenditures - $4,672,400/Annual Amortized Cost Increase Local Expenditures - Exceeds $4,000,000/Permissive Increase Federal/Other Expenditures - $1,557,400/Annual Amortized Cost Bill Summary for HB4008 / *SB2704 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 TCRS benefits may return to service temporarily in a position covered by the TCRS and continue to draw such [...] show full description
Latest Action: 02/13/2008 - Assigned to Subcommittee State Government of S&LG Bill TextCompanion Bill SB4100. Pensions and Retirement Benefits - Authorizes certain political subdivisions to establish a mandatory retirement age for certain emergency management services personnel; allows certain EMS personnel, being 55 years of age or older and having at least 25 years of creditable service, to retire early. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35 and Title 8, Chapter 36. Fiscal Summary for *HB4068 / SB4100 Increase Local Govt. Expenditures - Exceeds $3,200,000/ Annual Amortized Cost/Permissive Bill Summary for *HB4068 / SB4100 Under present law, there is not a mandatory age requirement for any member of the TCRS, except for certain members such as state police officers, wildlife officers, or commissioned members of the alcoholic beverage commission and who are engaged in law enforcement activities [...] show full description
Latest Action: 02/27/2008 - Taken Off Notice For Calendar in Subcommittee Special Initiatives of Education of Education Committee Bill TextCompanion Bill SB3694. Pensions and Retirement Benefits - Increases state portion of insurance premiums for active and retired teachers. - Amends TCA Title 8, Chapter 27. Fiscal Summary for HB4132 / *SB3694Increase State Expenditures - Exceeds $20,000,000 Increase Local Expenditures* - Exceeds $2,000,000 Bill Summary for HB4132 / *SB3694 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 [...] show full description
Latest Action: 02/04/2008 - Passed second consideration, Referred to Senate Finance, Ways and Means Comm. Bill TextPensions and Retirement Benefits - Authorizes designation of multiple beneficiaries upon retirement and removes requirement that TCRS member employee must select single beneficiary. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36 and Title 8, Chapter 37. Fiscal Summary for *SB4029 / HB3966 MINIMAL
Latest Action: 02/04/2008 - Passed second consideration, Referred to Senate S&L Govt. Comm. Bill TextCompanion Bill HB4068. Pensions and Retirement Benefits - Authorizes certain political subdivisions to establish a mandatory retirement age for certain emergency management services personnel; allows certain EMS personnel, being 55 years of age or older and having at least 25 years of creditable service, to retire early. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35 and Title 8, Chapter 36. Fiscal Summary for SB4100 / *HB4068 Increase Local Govt. Expenditures - Exceeds $3,200,000/ Annual Amortized Cost/Permissive Bill Summary for SB4100 / *HB4068 Under present law, there is not a mandatory age requirement for any member of the TCRS, except for certain members such as state police officers, wildlife officers, or commissioned members of the alcoholic beverage commission and who are engaged in law enforcement activities [...] show full description
Latest Action: 04/23/2008 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee Bill TextCompanion Bill SB3737. Public Funds and Financing - Requires divestment and prohibits investment in countries practicing apartheid or genocide; requires divestment and prohibits investment in companies doing business with countries practicing apartheid or genocide; prohibits state contracts with companies doing business with countries practicing apartheid or genocide. - Amends TCA Title 4, Chapter 3, Part 24; Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36; Title 8, Chapter 37; Title 8, Chapter 5; Title 9, Chapter 4 and Title 12, Chapter 4. Fiscal Summary for HB4046 / *SB3737Increase State Expenditures - Up to $1,050,000 / One-Time $104,300 / Annual Amortized Cost Other Fiscal Impact - Increase Federal/Other Expenditures: Up to $350,000 / One-Time $34,700 / Annual Amortized Cost Bill [...] show full description
Latest Action: 05/01/2008 - H. Placed on Regular Calendar for 5/06/08 Bill TextCompanion Bill SB3245. Pensions and Retirement Benefits - Allows TCRS members to designate more than one person as beneficiary under certain circumstances. - Amends TCA Title 8, Chapter 36. Fiscal Summary for HB3813 / *SB3245 MINIMAL Bill Summary for HB3813 / *SB3245 ON MAY 1, 2008, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 3245, AS AMENDED. AMENDMENT #1 rewrites this bill. Present law requires a TCRS member to designate, upon retirement, only one person as beneficiary. This amendment adds that notwithstanding this requirement, members may, upon retirement and on or after the date determined pursuant to this amendment, name more than one person as beneficiary under one of the following options (which are the options that apply under present law for members who elect to convert the retirement allowance otherwise [...] show full description
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