Terms Used In Tennessee Code > Title 35 > Chapter 3 - Investment of Trust Funds

• Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member, together with any amount transferred to the account of the member established pursuant to chapters 34-37 of this title from the respective account of the member under one (1) or more of the superseded systems, with interest thereon, as provided in §. See Tennessee Code 8-34-101
• Actuarial equivalent: means a benefit of equal value when computed at regular interest upon the basis of the mortality tables last adopted for such purpose by the board of trustees. See Tennessee Code 8-34-101
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appraisal: A determination of property value.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney general: means the attorney general and reporter and any assistant thereto by whatever name known, any district attorney general and any assistant thereto by whatever name called, and any officer or full-time employee of the general assembly or any committee thereof established by statute, who is duly licensed to practice law in Tennessee, whose duty it is to provide facilities for drafting bills or to assist individual legislators in drafting bills or who renders legal advice and services to the members of the general assembly or committees thereof. See Tennessee Code 8-34-101
• bank: means a system of accounting for voluntarily pooled and irrevocably donated accumulated personal sick leave which is collected for the purpose of providing sick leave to members of the program who have suffered a personal illness, surgery, disability or quarantine and whose sick leave is exhausted. See Tennessee Code 8-50-901
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
• Creditable service: means prior service plus membership service, as provided in part 6 of this chapter. See Tennessee Code 8-34-101
• Devise: To gift property by will.
• disabled: means the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to last for a continuous period of not less than twelve (12) months. 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
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• funding board: means the board created pursuant to §. See Tennessee Code 8-50-1202
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Governing body: means the body in which the general legislative powers of a municipal corporation are vested and, in the case of counties, means the legislative body of the respective counties. See Tennessee Code 68-211-902
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• 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
• Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Olympic competition: means the official Olympic games, sanctioned by the United States Olympic Committee, in which the United States competes as a national body. See Tennessee Code 8-50-1101
• other contracting party: means any party to a sale contract or loan agreement except the authority. See Tennessee Code 68-211-902
• Person: means person as defined in §. See Tennessee Code 68-211-902
• Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Political subdivision: means any Tennessee local governmental entity, including, but not limited to, any municipality, metropolitan government, county, utility district, school district, public building authority, and development district created and existing pursuant to the laws of Tennessee, or any instrumentality of government created by any one (1) or more of the named local governmental entities or by an act of the general assembly. See Tennessee Code 8-50-1202
• post-employment benefits: means nonpension benefits paid on behalf of former employees or the former employees' beneficiaries after separation from service. See Tennessee Code 8-50-1202
• Probate: Proving a will
• Project: means any solid waste disposal facility or resource recovery facility, or any combination thereof. See Tennessee Code 68-211-902
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public employee: means any person holding a position by appointment or employment in the service of a public employer. See Tennessee Code 8-50-1101
• Public employer: means :
  (A) The state of Tennessee. See Tennessee Code 8-50-1101
• Public school: means any school conducted within the state under the authority and supervision of a duly elected or appointed city or county school board, and any educational institution supported by and under the control of the state. See Tennessee Code 8-34-101
• Resource recovery facility: means land, rights in land, buildings, facilities and equipment suitable or necessary for the recovery or production of energy or energy producing materials in any form resulting from the controlled processing or disposal of solid waste or the systematic separation, extraction and recovery of recyclable materials from the solid waste stream, including facilities or systems for the storage, conversion or transportation thereof. See Tennessee Code 68-211-902
• Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
• Retirement allowance: means the sum of the member annuity and the state annuity. See Tennessee Code 8-34-101
• Retirement system: means the Tennessee consolidated retirement system as defined in §. See Tennessee Code 8-34-101
• Revenue: means all rents, fees and other charges received by the authority for use of its projects, facilities and services including, without limitation, all amounts received for the collection, transportation, disposal or processing of solid waste, the operation of any project, or the sale, storage, distribution or transportation of energy, energy producing materials or other materials or commodities by the authority. See Tennessee Code 68-211-902
• revenue bonds: means bonds, notes, interim certificates or other obligations of an authority issued pursuant to this part, or pursuant to any other law, as supplemented by, or in conjunction with, this part. See Tennessee Code 68-211-902
• 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
• Sick leave: means a designated amount of compensated leave accumulated pursuant to part 8 of this chapter that is granted to a member who through personal illness, injury, disability or quarantine, is unable to perform the duties of the member's state position. See Tennessee Code 8-50-901
• Solid waste: means solid waste as defined in §. See Tennessee Code 68-211-902
• solid waste authority: means any public instrumentality organized pursuant to this part. See Tennessee Code 68-211-902
• State: means the state of Tennessee. See Tennessee Code 8-34-101
• Team: means any group leader, coach, official or athlete who comprises the official delegation of the United States to world, Pan-American or Olympic competition. See Tennessee Code 8-50-1101
• Testator: A male person who leaves a will at death.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.