Committee backs budget adjustment to meet new TCRS requirements for schools
The committee recommended Budget Amendment GPS-FY 18/19-1 to reallocate portions of the budget to comply with state-mandated changes to the Tennessee Consolidated Retirement System for school employees; the motion passed 5-0 on Nov. 1, 2018.
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Commissioner Tommy Savage told the Budget and Finance Committee that the State of Tennessee had mandated regulatory changes affecting the Tennessee Consolidated Retirement System (TCRS) for school system employees. Savage moved to recommend passage of Budget Amendment GPS-FY 18/19-1, described as allocating portions of the budget across function and object codes to address the change; Commissioner Christy Ross seconded and the motion passed 5-0.
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