Tennessee Code 17-535 – Spendthrift clause
Terms Used In Tennessee Code 17-535
- Beneficiary: means any person, persons or institution receiving a retirement allowance or other benefit as provided in chapters 34-37 of this title. See Tennessee Code 8-34-101
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Employer: means :
(A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101 - Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
- Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
Except for obligations which may be owed to the employer, as to which obligations benefits may be applied by the board, no benefit under this retirement system shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge shall be void, nor shall any such benefit be in any manner liable for or subject to the debts, contracts, liabilities, engagements or torts of the person entitled to such benefit except as specifically provided in the retirement system; and in the event the employer or the board shall find that any member, retired member or beneficiary has become bankrupt or has attempted to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge any benefit under the retirement system, except as specifically provided herein, then such benefit shall cease and determine, and in such event the board, in its sole discretion, shall hold or apply the same to or for the benefit of such member, retired member, beneficiary, his spouse, children or other dependents, or any of them.