Tennessee Code 49-1526 – Transfers from members’ contributions account to accumulation account
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Terms Used In Tennessee Code 49-1526
- 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pursuant to chapters 34-37 of this title from the respective account of the member under one (1) or more of the superseded systems, with interest thereon, as provided in §.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
- 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
- Retirement: means withdrawal from membership with a retirement allowance granted under chapters 34-37 of this title. See Tennessee Code 8-34-101
Upon the retirement of a member, the amount of his accumulated contributions standing to the credit of his individual account in the members’ contributions account shall be transferred to the accumulation account.