(a) Notwithstanding any law to the contrary, the governing body of any municipality may by ordinance adopt this part to establish and to authorize the payment of the minimum retirement allowance provided in § 6-54-803. The adoption of this part shall not authorize a decrease in the retirement allowance presently being paid to any retired employee. The adoption of this part by a municipality shall be permanent and such action may not be repealed to the detriment of any retired employee or such retired employee’s survivor or beneficiary.

Terms Used In Tennessee Code 6-54-802

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Department: means the fire department or police department of any municipality that pays wages to its employees for services rendered. See Tennessee Code 6-54-801
  • Employee: means any person who, on the adoption of this part, is a paid employee in the fire department or police department of any municipality and a member of a municipal retirement system or pension plan. See Tennessee Code 6-54-801
  • Municipality: means any municipality having its own employees retirement system or pension plan. See Tennessee Code 6-54-801
  • pension plan: means an existing system or plan by which a municipality is paying or will pay the retired employees of its fire department or police department a retirement allowance after such employees have complied with certain conditions or requirements of employment or service to the municipality. See Tennessee Code 6-54-801
  • Retired employee: means any person who has been a paid employee in the fire department or police department of any municipality and who, on the adoption of this part, is receiving from such municipality a retirement allowance based upon such person's service in such department. See Tennessee Code 6-54-801
  • Retirement allowance: means the monthly payment for life made to a retired employee or the retired employee's survivors or beneficiaries under a municipal employees retirement system or pension plan. See Tennessee Code 6-54-801
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) If the department of any municipality has more than one (1) retirement system or pension plan for its retired employees, the adoption of this part by the governing body of the municipality shall not affect any provisions of such retirement system or pension plan, except as is necessary to provide the minimum retirement allowance established in subsection (a).
(c) This part shall not apply to retirement allowances of municipal employees under the Tennessee state retirement system.
(d) This part shall not apply to any retirement system, pension plan or division thereof in which the member’s or beneficiary’s benefits are computed in conjunction with or reduced by social security benefits.
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