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Council recommends housekeeping bill to update TCRS rules, adds 70% joint-and-survivor option
Summary
The council recommended House Bill 535/Senate Bill 510, a TCRS housekeeping bill that removes employer contribution limits, clarifies earnable compensation and adds a 70% joint-and-survivor option; the motion passed unanimously.
The Council on Pensions gave a unanimous positive recommendation to House Bill 535/Senate Bill 510, a housekeeping bill from the Tennessee Consolidated Retirement System that makes technical changes to conform state law with federal law and ease administration.
Senator Wally, the bill sponsor, told the council the bill "is a housekeeping bill" and summarized changes including elimination of…
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