Amends Tennessee retirement laws to allow retirees to return to work under specific conditions.
This bill amends Tennessee's retirement laws to allow retirees to return to work under specific conditions. Retirees can be reemployed for additional one-year periods if they had a bona fide separation of service and meet certain criteria. The retiree must not work more than 120 days in a twelve-month period, and their compensation must not exceed 60% of their previous annual salary. The bill also requires the retiree's new employer to pay a certain amount to the retirement system during each period of reemployment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.