Title 8, Public Officers And Employees

(a) Notwithstanding any other law to the contrary, the chair of the consolidated retirement board, and the appropriately designated local officer or local board responsible for implementing a deferred compensation program are hereby authorized to invest the moneys held pursuant t…

A plan established by this part shall exist and serve in addition to other retirement, pension, or benefit systems established by the state of Tennessee, state agencies, counties, municipalities, or other political subdivisions. A deferred compensation plan established by this pa…

Notwithstanding another law to the contrary, and except as provided in § 8-34-101(14)(D), any compensation deferred under this part must be considered part of an employee's compensation for purposes of another employee retirement, pension, or benefit program. A deferral of income…

Notwithstanding this part or another law to the contrary, any sum deferred under the deferred compensation program shall not be included for the purposes of computation of any federal income taxes withheld on behalf of any employee, unless the deferred sum is designated by the em…

(a) Any medical records submitted to, or compiled by, any person or entity providing deferred compensation plan services pursuant to this part are confidential and shall not be disclosed except as follows:(1) To the extent that the employee or the employee's legal representative …

(a) Except as provided in subsection (e), when a subpoena duces tecum is served upon a person or entity administering or providing services to a deferred compensation plan established pursuant to this part in an action or proceeding in which the person or entity is not a party, a…

(a) Notwithstanding any law to the contrary, any governmental entity as defined in subsection (b) may elect to become a participating employer in any deferred compensation program established on behalf of state employees under this part or under part 3 of this chapter; provided, …

(a) Counsel for the treasury department shall serve as the attorney for the chair of the Tennessee consolidated retirement system with respect to any deferred or tax-sheltered compensation plans established pursuant to this chapter on behalf of state employees, including employee…

The trustees of any deferred or tax sheltered compensation plans established pursuant to this part are expressly authorized to contract for investment management services, personal services, professional services and consultant services for the deferred compensation programs. The…

Notwithstanding any other law to the contrary, any deferred compensation program established on behalf of state employees under this part or under part 3 of this chapter shall honor claims under a qualified domestic relations order at a time designated by the state treasurer. For…

(a) The state treasurer may inquire with local governments and volunteer fire departments about establishing a length of service award program pursuant to § 457 of the Internal Revenue Code as amended, and all applicable rules, regulations, notices, and interpretations released b…

(a) The state treasurer, with the approval of the commissioner of finance and administration, may adopt a new feature to one (1) or more of the state's deferred compensation plans, which plans include, but are not limited to, the 401(k), 403(b), and 457(b) plans that would permit…

This part shall be known and may be cited as the “Optional Retirement Program for Employees of Public Institutions of Higher Education.”

There is established an optional retirement program for employees of public institutions of higher education operated by the board of regents and the board of trustees of the University of Tennessee.

(a) The commissioner of finance and administration, the chair of the finance, ways and means committee of the senate, the chair of the finance, ways and means committee of the house of representatives, and the chair of the consolidated retirement board shall serve as trustees of …

(a) Notwithstanding any other law to the contrary, any individual who is exempt from the Fair Labor Standards Act (29 U.S.C. § 201 et seq.) and who is employed in a state-supported institution of higher education, including, but not limited to, the Tennessee colleges of applied t…

(a) The employer shall make employer contributions at the rate of ten percent (10%) of each eligible employee's earnable compensation, plus one percent (1%) of the part of the eligible employee's earnable compensation in excess of the employee's covered compensation. (b) The amou…

(a) Any employee or any spouse or any non-spousal beneficiary of an active, inactive, or retired employee who is eligible for a lump sum payment under this part may request the relevant optional retirement company to rollover the taxable portion of such payment directly to an eli…

(a) When any eligible employee in an optional retirement program retires with retirement credit in the retirement system, the employee's retirement allowance from the retirement system shall be computed and paid in accordance with chapters 34 – 37 of this title. (b) Employees who…

(a) An eligible employee who elects to participate in an optional retirement program established under this part will be ineligible to participate in the retirement system during such period as the employee is employed by a state-supported institution of higher education. (b) Whi…

Any employee participating in an optional retirement program whose benefits are limited to those of that program pursuant to § 8-25-207, may authorize the transfer of the employee's accumulated contributions deposited with the retirement system to such optional retirement program…

Any optional retirement program established pursuant to this part shall honor claims under a qualified domestic relations order. For purposes of this section, “qualified domestic relations order” has the same meaning ascribed to it in Section 414(p) of the federal Internal Revenu…

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 Reven…

Any member of the retirement system who participated in the optional retirement program and received a limited lump sum distribution of contributions pursuant to [former] § 8-25-205(c)(1) [repealed] shall be entitled to establish service and salary credit in the retirement system…

(1) A person returning to service on other than a full-time basis in a position covered by the optional retirement program or the Tennessee consolidated retirement system may take or continue taking distributions from the optional retirement program during the period of reemploym…

The state treasurer is directed to develop and obtain internal revenue service approval of a profit sharing or salary reduction plan for state employees as permitted by the internal revenue service. The responsibility for implementation of the plan for employees of institutions o…

As used in this part, “profit” means the excess revenue over expenditures prior to the expenditure of the amount which may be optionally made available for employees in cash or placed in trust by the state on behalf of the employees under the plan.

(a) (1) Subject to subsection (c), the state shall provide for employer matching of contributions to the plan on behalf of participating state employees who are eligible to participate in the Tennessee consolidated retirement system, or the optional retirement program established…

(a) Any political subdivision or instrumentality of the state, by resolution or ordinance of its governing body, is authorized to make available to its employees a profit sharing or salary reduction plan approved by the internal revenue service. (b) Any entity other than a politi…

(a) Counsel for the treasury department shall serve as the attorney for the treasurer with respect to the plan. (b) Notwithstanding any law to the contrary, in cases where the interests of the plan requires additional counsel, the treasurer, with the approval of the attorney gene…

Any medical records submitted to, or compiled by, any person or entity providing profit sharing and/or salary reduction plan services pursuant to this part are confidential and shall not be disclosed except as provided under § 8-25-109.

Section § 8-25-110 applies whenever a subpoena duces tecum is served upon any person or entity administering or providing services to a profit sharing and/or salary reduction plan established pursuant to this part.

The state treasurer may assess the costs associated with administering this program to the participating employees in order that such plan shall operate without administrative cost to or contribution from this state.

The state treasurer, with the approval of the commissioner of finance and administration, may adopt a new feature to the plan that would provide for an alternative social security replacement plan that satisfies the requirements of § 3121(b)(7)(F) of the Internal Revenue Code (26…

(a) The commissioner of finance and administration and the state treasurer, with the concurrence of the state insurance committee, are authorized to develop and implement a cafeteria plan for state employees as permitted by § 125 of the Internal Revenue Code of 1986 (26 U.S.C. § …

Any information concerning an employee's medical diagnosis, treatment or referral for treatment maintained by any person or entity providing cafeteria plan services hereunder is confidential and shall not be disclosed except as provided under § 8-25-109.