Tennessee Code 8-3437 – Credit for contributions
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Terms Used In Tennessee Code 8-3437
- Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member, together with any amount transferred to the account of the member established pursuant to chapters 34-37 of this title from the respective account of the member under one (1) or more of the superseded systems, with interest thereon, as provided in §. See Tennessee Code 8-34-101
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
- 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
- Regular interest: means interest at such rate or rates compounded annually as may be set from time to time by the board of trustees in accordance with §. See Tennessee Code 8-34-101
After the time mentioned in § 8-3452, each deduction provided for in §§ 8-3429 – 8-3436 shall be credited, together with regular interest thereon, to the individual account of the member from whose compensation the deduction was made. The total of all amounts deducted with interest shall be known as such member’s accumulated contributions.
Until such time as this section becomes effective as provided in § 8-3452, § 8-3437 of the Tennessee Code as enacted by chapter 6 of the Public Acts of 1955, prior to amendment, shall remain in full force and effect.