Tennessee Code 8-34-506 – Biennial evaluation of assets and liabilities of funds
Current as of: 2023 | Check for updates
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Terms Used In Tennessee Code 8-34-506
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
On the basis of regular interest and such tables as the board of trustees shall adopt, the actuary shall make a valuation, at least once in each two-year period, of the assets and liabilities of the funds of the retirement system.