Notwithstanding the foregoing, whenever the managing board of a local retirement fund includes municipal employees who are not elected by the people and who are not members of the board of education, nor employed or appointed by the board of education, the managing board shall pay monthly to each retired teacher, in addition to whatever retirement income such retired teacher is otherwise entitled to receive from the local retirement fund, an amount not less than such retired teacher's proportionate part of the excess of the total of the state annuities received by the managing board for all retired teachers for that month over that for the corresponding month of 1961.
Structure 2021 Tennessee Code
Title 8 - Public Officers and Employees
Chapter 35 - Retirement—membership
Part 3 - Membership—teachers in Local Systems
§ 8-35-301. Teachers Participating in Local Funds
§ 8-35-302. Teachers Not Eligible to Participate in Local Funds
§ 8-35-303. State Annuity for Teachers Eligible to Participate in Local Funds
§ 8-35-304. Teachers Becoming Members After July 1, 1972
§ 8-35-305. Information From Operators of Local Funds
§ 8-35-308. Member of Local Fund Entering Service of Employer Without Local Fund
§ 8-35-309. Determination of Normal and Accrued Liability Contributions
§ 8-35-310. Consideration of Creditable Service Not Recognized by Local Fund
§ 8-35-311. Adoption of Provisions of This Part by Operator of Local Fund
§ 8-35-312. Adjustment of Teachers' Benefits When Local Fund Includes Certain Nonteachers
§ 8-35-313. Payment of State Annuity Direct to Retiree
§ 8-35-314. Optional Retirement Allowances
§ 8-35-315. Deduction of Amount of State Annuity From Allowances or Supplements
§ 8-35-316. Payment of Minimum Benefit Supplements to Certain Local Fund Retirees