(a) A retirement system is established and placed under the management of the board of trustees, for the purpose of providing retirement allowances and other benefits under the provisions of chapters 34-37 of this title. The retirement system so created shall be established as of July 1, 1972.
Terms Used In Tennessee Code 8-34-201
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- 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
- Internal Revenue Code: means the Internal Revenue Code of 1986, codified in United States Code, title 26, as amended. 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
- Retirement system: means the Tennessee consolidated retirement system as defined in §§. See Tennessee Code 8-34-101
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) The retirement system is established as a qualified defined benefit plan under chapters 34-37 of this title, as amended, pursuant to §§ 401(a) and 414(d) of the Internal Revenue Code (26 U.S.C. §§ 401(a) and 414(d)), or such other provision of the Internal Revenue Code as applicable, and applicable United States department of the treasury regulations and other guidance.