(a) Anything in chapters 34-37 of this title to the contrary notwithstanding, in determining any state annuity or lump sum death benefit payable to or on account of any retired teacher for any period of service in the employ of the University of Tennessee subsequent to September 1, 1955, shall be disregarded both for the purpose of computing the amount thereof and for the purpose of determining the teacher’s eligibility for such benefits.

Terms Used In Tennessee Code 8-36-104

  • 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.
  • Average final compensation: means the average annual earnable compensation of a member during the five (5) consecutive years of the member's creditable service affording the highest such average, or during all of the years in the member's creditable service if less than five (5) years. 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
  • 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
  • State: means the state of Tennessee. See Tennessee Code 8-34-101
(b) In determining the average final compensation of a teacher having any such period of service subsequent to September 1, 1955, the teacher’s earnable compensation shall be limited to two thousand five hundred dollars ($2,500) during any period between July 1, 1945 and July 1, 1949, and shall be limited to three thousand six hundred dollars ($3,600) during any other period prior to July 1, 1955.
  Previous section
Next section  
 Part 1 Contents