(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.
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