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Jonesborough approves $400 actuary study to assess hazardous duty retirement credit eligibility for public safety
Summary
The board approved paying $400 for an actuarial study to determine eligibility and costs for hazardous duty service credits under TCRS for police and fire personnel with 20 years of service.
The Board of Mayor and Aldermen approved a request to pay $400 for an actuarial study to determine whether Jonesborough qualifies for hazardous duty retirement service credits through the Tennessee Consolidated Retirement System (TCRS).
Human Resources staff explained the study would determine eligibility for hazardous duty credit for post-certified police officers and firefighters, with potential credit based on 20 years of service. The actuarial study is required before the town can decide whether to purchase service credits for eligible employees and to quantify the fiscal impact.
Board members asked whether the study would apply retrospectively to current officers; staff said the estimate would consider current personnel with eligible post-certified service but would not apply to employees who already retired. The board recognized the exercise "could be an expensive endeavor," and discussed that the study's purpose is to quantify any future fiscal obligation.
Alderman Wolf moved to approve the study; the motion carried on a recorded voice vote. The meeting record shows the study will precede any decision about purchasing service credits; the transcript does not list a projected buyback cost or the number of employees who may qualify.
Staff will return to the board with the actuarial results and cost estimates for any purchase of hazardous duty service credit.
