Tennessee § 65-152 - Definitions.

§ 65-152. Definitions.

As used in §§ 65-151 — 65-168 the following definitions shall apply, unless otherwise required by the context: “Commissioner” shall mean any person in office as a member of the Tennessee public service commission, as prescribed by §§ 65-101 — 65-120, on May 7, 1969, or subsequently appointed or elected to such office. “Service” shall mean service as a commissioner and shall include time while on leave of absence during the term of such office, and shall include service rendered during his term of office by a commissioner in any department of the government of the United States during the existence of a state of war or a period of national emergency, and shall further include the period of time that any commissioner may have served as a member of the general assembly and/or as a member of the governor's cabinet as the head of any of the administrative departments of state government enumerated and set forth in § 4-302; provided, however, that service in either of the capacities next above set forth shall be subject to a maximum of six (6) years served as a member of the general assembly and to a maximum of four (4) years served by appointment of the governor as head of an administrative department of state government, only if the commissioner has: (1) paid to the public service commissioners' retirement fund (as hereinafter defined) four per cent (4%) of the compensation he received as a member of the general assembly and/or as the head of an administrative department of state government in respect of such years plus interest at the rate of six per cent (6%) per annum prior to May 7, 1969 or (2) if, in the alternative, such commissioner has heretofore paid contributions with respect to any or all such service, and which contributions shall have been transferred from such other retirement system to this public service commissioners' retirement system in the manner hereinafter prescribed in §§ 65-151 — 65-168, in an amount which equals or exceeds the amount of contributions with respect to service as a member of the general assembly or as the head of an administrative department of state government which such commissioner otherwise would be required by the provisions of clause (1) this subsection to pay to the public service commissioners' retirement fund in order to qualify such service. “Public service commissioners' retirement system” shall mean the system established by §§ 65-151 — 65-168. “Public service commissioners' retirement fund” shall mean the fund hereinafter established and created by said sections. “Normal retirement age” shall mean age sixty-five (65) and shall refer to the earliest age at which a commissioner has a right to retire and receive a benefit regardless of his length of service. “Benefit base” means a sum equal to the annual salary provided by law as of the date a commissioner terminates his office as commissioner for any reason, including retirement, disability or death. “Normal retirement benefit” shall equal seventy-five per cent (75%) of a commissioner's benefit base if he has completed at least twenty (20) years of service and has attained the “normal retirement age.” Otherwise the normal retirement benefit shall be 3.75% of his benefit base multiplied by the number of years of service if he has less than twenty (20) years of service and has attained the age of sixty-five (65) years, and who thereupon elects to retire under the provisions of §§ 65-151 — 65-168 prior to completion of twenty (20) years of service. Acts 1969, ch. 231, § 1.