Bill > SB2018

This bill revises provisions related to the Tennessee Consolidated Retirement System (TCRS), a state-administered retirement plan. Primarily, it modifies how documents can be produced in legal proceedings involving TCRS members or deferred compensation plans, allowing for the submission of copies accompanied by an affidavit from a custodian of records instead of requiring the custodian's personal appearance, unless there's a dispute about the accuracy of the information. It also clarifies that monthly benefit payments cease in the month of the payee's death, with specific provisions for retired members and beneficiaries. Additionally, for members returning to temporary reemployment between July 1, 2022, and June 30, 2027, if it's discovered they didn't have a "bona fide separation of service" (meaning a genuine break from employment before retiring and returning), they will be treated as having received an in-service distribution, requiring tax reporting adjustments, and must have a proper separation before any future temporary reemployment.