Fiscal Summary

Increase State Expenditures – Net Impact – $7,674,700/FY24-25   Increase Federal Expenditures – $288,700/FY24-25   Other Fiscal Impact – The total additional lump sum pension liability to the Tennessee Consolidated Retirement System is estimated to be $8,067,900.

Bill Summary

This bill imposes mandatory age requirements for retirement on certain members of the Tennessee consolidated retirement system (TCRS) as described below.

Present law provides that there is not a mandatory age requirement for TCRS members, except for certain members, including:

(1) Those employed as state police officers, wildlife officers, or commissioned members of the alcoholic beverage commission and who are engaged in law enforcement activities on a day-to-day basis, or who have been transferred from law enforcement activities to a supervisory or administrative position within the same department or agency;

(2) Commissioned instructors employed at the Tennessee law enforcement training academy;

(3) Those employed with the wildlife resources agency as commissioned wildlife area managers, commissioned wildlife lake managers, commissioned boating chiefs, commissioned boating assistant chiefs, commissioned wildlife safety officers, commissioned habitat biologists, commissioned enforcement chiefs, or commissioned assistant enforcement chiefs; and

(4) Those employed as firefighters, police officers, or correctional officers with certain political subdivisions participating in TCRS, or who have been transferred from such a position to a supervisory or administrative position within the police or fire department;

Present law requires members described in (1)-(3) to be retired on the first day of the month following the month in which the member attains 60 years of age, unless the department of human resources determines that such member serves in a supervisory or administrative position that requires less than 50 percent of the member's duties to be involved in day-to-day law enforcement activities. In such a case, present law authorizes the member to continue in service until the first day of the month following the month in which the member reaches the age requirement for receipt of old age and survivors benefits under Title II of the Federal Social Security Act if the member acknowledges, in the manner prescribed by the retirement division, that by continuing in service the member forfeits any rights to retirement benefits, including the supplemental bridge benefit, during the period of the member's continued service.

Present law also provides that any member who serves as the commissioner of safety, the director of the Tennessee bureau of investigation, the director of the Tennessee wildlife resources agency, the director of the Tennessee alcoholic beverage commission, or as the chief of a police department or of a fire department, may continue in service beyond the age requirement for receipt of old age and survivors benefits under Title II of the Federal Social Security Act.

This bill imposes the mandatory age requirements described above on the following TCRS members on and after July 1, 2024:

(1) Commissioned special agents of the department of revenue; and

(2) Commissioned members of the department of environment and conservation classified as a park ranger, park manager, assistant chief ranger, or chief ranger.