Tennessee § 8-36-924 - Establishment of retirement credit for previous service.

§ 8-36-924. Establishment of retirement credit for previous service.

Any participant who previously served as a state employee or teacher whose membership in the retirement system was optional, but who elected not to participate, may establish retirement credit in the hybrid plan for the previous service pursuant to § 8-36-905. Any political subdivision employee participant who previously served in a position having optional membership in the retirement system, but who elected not to participate, may be eligible to establish retirement credit in the hybrid plan for the previous service pursuant to § 8-36-905 if the following conditions are met: The political subdivision is a participating employer in the hybrid plan and the prior service was rendered to that political subdivision; The chief legislative body of the political subdivision passes a resolution authorizing an actuarial study to determine the liability associated with the prior service, and accepting responsibility for the costs of the study; and Following receipt of the actuarial study, the chief legislative body of the political subdivision passes a resolution authorizing the prior service and accepting the liability for the credit. To establish credit under this section, a member must have at least one (1) year of current membership service or previous service established pursuant to chapter 35, part 2 of this title and must establish credit for all back service before such service is creditable, except as otherwise provided in chapters 34-37 of this title. Acts 2016, ch. 962, § 43. Effective Dates. Acts 2016, ch. 962, § 58. April 27, 2016.