Tennessee § 8-36-906 - Eligibility for service retirement allowance from defined benefit component of plan.

§ 8-36-906. Eligibility for service retirement allowance from defined benefit component of plan.

Except as otherwise provided in this section and in § 8-36-921, any participant shall be eligible for a service retirement allowance from the defined benefit component of the plan upon attainment of sixty-five (65) years of age and completion of five (5) years of creditable service, or upon attainment of a combination of age and years of creditable service as to equal ninety (90). Any participant serving in a position covered by the mandatory retirement provisions of § 8-36-205 shall be eligible for a service retirement allowance from the defined benefit component of the plan upon attainment of sixty (60) years of age and upon completion of five (5) years of creditable service, or at any age upon completion of thirty (30) years of creditable service. Further, any participant who has creditable service in a position covered by the mandatory retirement provisions of § 8-36-205 and who is entitled to the supplemental bridge benefit pursuant to § 8-36-211 shall be eligible for a service retirement allowance from the defined benefit component of the plan upon attainment of fifty-five (55) years of age and upon completion of twenty-five (25) years of creditable service; provided, that the service rendered while the participant was in a position covered by the mandatory retirement provisions shall be independent of all other creditable service for the purpose of calculating the participant's retirement allowance under § 8-36-907. Any participant serving as the attorney general and reporter, a district attorney general, district public defender, or state judge shall be eligible for a service retirement allowance from the defined benefit component of the plan upon attainment of sixty (60) years of age and upon completion of eight (8) years of creditable service, or upon the attainment of fifty-five (55) years of age and upon completion of twenty-four (24) years of creditable service. Any participant serving as a member of the general assembly shall be eligible for a service retirement allowance from the defined benefit component of the plan upon attainment of sixty (60) years of age and upon completion of four (4) years of creditable service. A member in the defined benefit component of the hybrid plan shall be one hundred percent (100%) vested in the member's service retirement allowance upon attaining the normal retirement age of sixty-five (65) with at least five (5) years of creditable service, except that if such member is: Covered by the mandatory retirement provisions of § 8-36-205, then the normal retirement age of sixty (60) with at least five (5) years of creditable service; Serving as the attorney general and reporter, a district attorney general, district public defender, or state judge, then the normal retirement age of sixty (60) with eight (8) years of creditable service; or A member of the general assembly, then the normal retirement age of sixty (60) with four (4) years of creditable service. A member who leaves the service of the employer before reaching normal retirement age but after completing at least five (5) years of creditable service shall have a vested right to accrued benefits from the plan. A member shall be one hundred percent (100%) vested in the member's accumulated contributions at all times. A member in the hybrid plan shall be one hundred percent (100%) vested in the employee and employer contributions under the defined contribution component of the hybrid plan at all times. In the event of a full or partial termination of, or a complete discontinuance of employer contributions to the plan, the accrued benefits of the affected members under the plan shall be one hundred percent (100%) vested and nonforfeitable to the extent funded and to the extent required by federal law. In conformity with § 401(a)(8) of the Internal Revenue Code (26 U.S.C.§ 401(a)(8)), any forfeitures of benefits by members or former members shall not be used to pay benefit increases. However, such forfeitures shall be used to reduce employer contributions. Acts 2013, ch. 259, § 1; 2016, ch. 605, § 10. Compiler's Notes. Acts 2013, ch. 259, § 6 provided that the board may promulgate rules, including emergency rules, in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, that the board deems necessary to effectuate this part. Amendments. The 2016 amendment added (d) – (h). Effective Dates. Acts 2016, ch. 605, § 16. March 17, 2016.