The board of trustees shall certify to the commissioner of finance and administration and the state treasurer, in the case of any employee paid by warrants on the state treasurer, or to the department, institution, commission, board or agency by which the salary of any employee is paid, the proportion or percent to be deducted from the compensation of each member.

(1) Such authority or officer shall cause to be deducted from the compensation of each member, on each and every payroll of such employer for each and every payroll period, the percentage of earnable compensation applicable to such member.

Terms Used In Tennessee Code 8-37-204

  • board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
  • Commissioner: means any person in office as a member of the public service commission, as prescribed by title 65, chapter 1, prior to June 30, 1996. See Tennessee Code 8-34-101
  • Earnable compensation: includes , but is not limited to, any bonus or incentive payment. See Tennessee Code 8-34-101
  • Employer: means :
    (A) The state or any department, commission, institution, board or agency of the state government by which a member is paid, with respect to members in its employ. See Tennessee Code 8-34-101
  • Member: means any person included in the membership of the retirement system, as provided in chapter 35, part 1 of this title. See Tennessee Code 8-34-101
  • State: means the state of Tennessee. See Tennessee Code 8-34-101
(2) To facilitate the making of deductions, the authority or officer may modify the deduction required of any member by such an amount as shall not exceed one tenth of one percent (0.1%) of the annual earnable compensation upon the basis of which such deduction is made.
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