Bill > HB0756

This bill modifies the Tennessee Consolidated Retirement System (TCRS) rules regarding military service credit for retirement. Specifically, it updates the existing law to allow members who have performed peacetime military service in the United States armed forces on or after October 15, 1940, to establish retirement credit. Under the new provisions, members can receive one day of creditable retirement service for each day of military service, with the requirement that they pay employee contributions at a 9% rate based on their earnable compensation at the time of the claim or at their termination of employment. The bill also maintains existing conditions related to military service credit claims. The changes will take effect on July 1, 2025, and are designed to provide more flexible retirement credit options for public employees with military service backgrounds. By allowing members to purchase credit for a broader period of peacetime military service, the bill aims to recognize and compensate public employees for their military contributions to the nation.

Budget and Finance, Government Affairs, Labor and Employment

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0756&ga=114