Bill > HB0535

This bill makes several significant changes to Tennessee's consolidated retirement system (TCRS), primarily affecting public employees and elected officials. Starting July 1, 2025, the bill mandates that certain public officials, including members of the general assembly, county judges, county officials, and part-time state employees or teachers, must become members of the Tennessee consolidated retirement system as a condition of employment, unless they specifically elect not to participate within 30 days of starting their job. The bill also introduces new retirement benefit options, such as allowing retirees to reannuitize their retirement benefits in favor of a new spouse beneficiary following a divorce, and adds provisions for recovering overpayments in retirement benefits. Additionally, the bill clarifies rules around retirement distributions, including adjusting the required beginning date for benefit distributions based on an employee's age and modifying rules for optional retirement allowances. The legislation aims to standardize retirement system participation and provide more flexibility for retirees while ensuring the financial sustainability of the retirement system.

Government Affairs, Labor and Employment

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0535&ga=114