Public Chapter 432
HOUSE BILL NO. 166
By Representatives Head, Rhinehart
Substituted for: Senate Bill No. 379
By Senators Atchley, Burks
AN ACT to amend Tennessee Code Annotated, Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36; Title 8, Chapter 37, relative to the Tennessee Consolidated Retirement System and to amend Title 8, Chapter 38, Part 1, relative to social security.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 8-34-101(4)(B), is amended by adding the following as a new item (ii) and by redesignating the subsequent items accordingly:
(ii) Notwithstanding subdivision (4)(B)(i) of this section, effective July 1, 1998, such increases in the annual earnable compensation shall continue indefinitely for any member covered by the noncontributory provisions of the retirement system on July 1, 1981, or upon the effective date of the noncontributory provisions for any member covered after July 1, 1981, unless such members are employees of employers participating in the retirement system pursuant to chapter 35 of this title. The governing body of any such employer may at its discretion authorize and accept the liability for such continued increases by resolution;
SECTION 2. Implementation of the provisions of this act shall be subject to the funding being provided in the General Appropriations Act.
SECTION 3. This act shall take effect on July 1, 1998, the public welfare requiring it.