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SB 2527

Pensions and Retirement Benefits - As introduced, requires the board of trustees of TCRS to include in its annual report to the general assembly a certification of the amount of normal contributions, accumulated liability contributions, and cost of living contributions required from the employer to meet the funding needs of retirements for state judges and attorneys general participating in Groups 1, 3, and 4 of the consolidated retirement system. - Amends TCA Title 4 and Title 8.

114th Regular Session (2025-2026) Introduced by Tom Hatcher

The bill requires the TCRS Board to certify in its annual report the employer contribution amounts needed for normal, accumulated liability, and cost-of-living contributions for st

Passed on Second Consideration, refer to Senate State and Local Government Committee
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Bill Summary · SB 2527

Summary: SB 2527 (Session 114) — Pensions and Retirement Benefits

Purpose and Intent

  • The bill amends Tennessee law to require the Tennessee Consolidated Retirement System (TCRS) Board of Trustees to include a specific certification in its annual report to the General Assembly.
  • The certification relates to the employer contribution amounts needed for state judges and attorneys general who participate in Groups 1, 3, and 4 of TCRS.

Key Provisions

  • Amends: Tennessee Code Annotated (TCA) Title 4 and Title 8; specifically adds a requirement to the annual reporting framework.
  • New Certification Requirement:
    • The TCRS Board of Trustees must certify, in the board’s annual report published pursuant to § 8-34-316, the amounts of employer contributions required for:
    • Normal contributions
    • Accumulated liability contributions
    • Cost of living contributions
    • This certification must reflect the funding needs of retirements for state judges and attorneys general participating in Groups 1, 3, and 4 of the consolidated retirement system (TCRS).
  • Effective Date: The act takes effect upon becoming law, as public welfare requiring it.

Who is Affected

  • Primary: TCRS Board of Trustees (Board must include the specified certification in their annual report).
  • Indirect: State judges and attorneys general who are participants in Groups 1, 3, and 4 of TCRS.
  • General Assembly: Receives the updated certification as part of the board’s annual fiscal report.

Procedural and Timeline Details

  • Certification Location: Annual report required by § 8-34-316.
  • Reporting Focus: The annual report must now include the certification detailing the amounts for normal contributions, accumulated liability contributions, and cost of living contributions required from the employer for the specified participant groups.
  • Fiscal Impact: The fiscal note indicates a not-significant impact on state or local government; the board can incorporate the new certification using existing resources.

Fiscal Impact (Summary)

  • Not Significant: The fiscal analysis concludes that implementing the certification addition does not create a significant fiscal impact.
  • Resource Use: No major new resources are anticipated; the Board can include the certification within its current reporting process.

Additional Context

  • The bill aligns with existing statutory requirements that the Board annually certify various employer contribution amounts to the General Assembly.
  • It expands transparency specifically for retirement funding needs of high-level public officials (state judges and attorneys general) within Groups 1, 3, and 4 of TCRS.

If you want, I can provide a side-by-side comparison with current law to show exactly where the new language fits and how the annual report structure will change.

Compiled from official sources — confirm details with the bill’s official record.

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