Terms Used In Tennessee Code 49-5-907

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • 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
  • teacher: means and includes any director of schools, assistant director of schools, principal, assistant principal, supervisor, assistant supervisor, persons in charge of any special department of instruction, and any teacher or instructor regularly employed as such by the school board of such city or county, town or district. See Tennessee Code 49-5-903

Every teacher in the public schools of a city, town, county or district who has taught in the schools not less than ten (10) years, has contributed for not less than five (5) years annually to the fund, as may be provided under this part, and has become, without the fault of the teacher, mentally or physically incapacitated from such service, may be retired by the school board and become a beneficiary of the fund in the same manner as provided in this part, but such annuity shall cease when the incapacity ceases; however, such incapacity does not include temporary illness.

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