Tennessee Code 8-3428 – Revision of experience tables and rates
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Terms Used In Tennessee Code 8-3428
- board: means the board provided for in part 3 of this chapter. 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
- Service: means service as a general employee, a teacher, a state police officer, a wildlife officer, a firefighter, a police officer, a state judge, a county judge, an attorney general, a commissioner or a county official which is paid for by an employer, and also includes service for which a former member of the general assembly is entitled to under former §. See Tennessee Code 8-34-101
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
At least once in each two (2) year period, after the establishment of the retirement system, the board shall cause an actuarial investigation to be made of the mortality, service and salary experience of the members of the retirement system and an evaluation of the funds under its control. Pursuant to such investigations and evaluations the board shall, from time to time, revise the mortality and service tables and the rates of contributions prescribed pursuant thereto.