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Bill > SB0722
TN SB0722
TN SB0722AN ACT to amend Tennessee Code Annotated, Title 3; Title 8, Chapter 27, Part 2; Title 8, Chapter 34; Title 8, Chapter 35 and Title 8, Chapter 36, relative to retirement benefits for members of the general assembly.
summary
Introduced
02/04/2025
02/04/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, requires the board of trustees of the Tennessee consolidated retirement system to convert a person's participation in the retirement system, for service as a member of the general assembly and as a participant in the hybrid plan, from the hybrid plan to the legacy plan upon the person completing 10 years of service as a member of the general assembly if the person became a member of the general assembly on or after July 1, 2014; requires retiree health benefit coverage be made available to retired members of the general assembly with 10 or more years of service. - Amends TCA Title 3; Title 8, Chapter 27, Part 2; Title 8, Chapter 34; Title 8, Chapter 35 and Title 8, Chapter 36.
AI Summary
This bill modifies retirement and health benefits for Tennessee state legislators who become members of the general assembly on or after July 1, 2014. Specifically, the bill requires the board of trustees of the Tennessee consolidated retirement system to automatically convert a legislator's retirement plan from a hybrid plan to a legacy plan after completing 10 years of service. Additionally, the bill extends retiree health benefit coverage and supplemental medical insurance to senators and representatives who have served 10 or more years in the general assembly, starting from July 1, 2024. The bill also removes previous language that restricted health insurance coverage for newly elected senators and representatives, though it maintains the existing restriction for governors elected after July 1, 2015. The changes will take effect on July 1, 2025, and will apply to legislators who complete 10 years of service on or after July 1, 2024, with the aim of providing more comprehensive retirement and health benefits for long-serving state legislators.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Assigned to General Subcommittee of Senate State & Local Gov't. Committee (on 04/02/2025)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0722&ga=114 |
| Fiscal Note - HB0463 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB0463.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB0722.pdf |
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