Tennessee Code 17-515 – Retirement allowance account
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Terms Used In Tennessee Code 17-515
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
The retirement allowance account shall be the account in which all litigation taxes, all amounts transferred from the members’ contribution account, and all income from invested assets of the fund shall be credited. From this account shall be paid the expenses of administering the system, death benefits, retirement benefits, and any other benefits payable after a member‘s retirement or death.