Upon retiring or otherwise terminating employment, an employee participating in an optional retirement program may elect to receive a cash withdrawal of such employee's accumulated account or accounts if permitted by the relevant optional retirement product and the Internal Revenue Code, as amended, and all rules, regulations, notices, and interpretations released by the United States treasury, including the internal revenue service. Any employee who receives a cash withdrawal pursuant to this section shall not be entitled to reestablish the withdrawn amount or any period of service represented by that amount in either the optional retirement program, the retirement system, or any other Tennessee state retirement program.
Structure 2021 Tennessee Code
Title 8 - Public Officers and Employees
Chapter 25 - Deferred or Tax-Sheltered Compensation Programs
Part 2 - Optional Retirement Program for Employees of Public Institutions of Higher Education
§ 8-25-202. Establishment of Program
§ 8-25-210. Claims Under Qualified Domestic Relations Order
§ 8-25-211. Cash Withdrawal From Program — Effect of Cash Withdrawal