Plain English Breakdown
The official source material does not provide details on what happens if the certification is not included or how it affects other groups within the retirement system.
Tennessee Retirement Benefits Act
This bill requires the board of trustees for Tennessee's Consolidated Retirement System to include specific information about retirement contributions in their annual report.
What This Bill Does
- Requires the board of trustees of TCRS to add a certification to their annual report.
- The certification must show how much money is needed from employers to fund retirements for state judges and attorneys general participating in Groups 1, 3, and 4.
Who It Names or Affects
- Board of trustees of TCRS
- Employers who contribute to the retirement funds
- State judges and attorneys general
Terms To Know
- TCRS
- Tennessee Consolidated Retirement System, which manages retirement benefits for state employees.
- Certification
- A formal statement that confirms the accuracy of information provided in a report.
Limits and Unknowns
- The bill does not specify what happens if the certification is not included.
- It's unclear how this will affect other groups within the retirement system besides Groups 1, 3, and 4.