Tennessee Code 8-37-215 – Transfer of accumulated contributions to the state accumulation fund for payment of allowances
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Terms Used In Tennessee Code 8-37-215
- 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pursuant to chapters 34-37 of this title from the respective account of the member under one (1) or more of the superseded systems, with interest thereon, as provided in §.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
- Retirement allowance: means the sum of the member annuity and the state annuity. See Tennessee Code 8-34-101
- State: means the state of Tennessee. See Tennessee Code 8-34-101
Upon the retirement of a member, or if a retirement allowance becomes payable on account of the member’s death prior to retirement, the member’s accumulated contributions shall be transferred from the members’ fund to the state accumulation fund.