Tennessee Senate Bill 2171 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 22 2011 - 25% progression, died in committee
Action: 2012-01-12 - P2C, ref. to S. FW&M Comm.
Pending: Senate Finance, Ways and Means Committee
Text: Latest bill text (Draft #1) [PDF]

As introduced, effective July 1, 2012, creates a new defined contribution plan as a mandatory retirement package for newly hired state employees; closes existing defined-benefit pension plan to newly hired state employees; requires state agencies to contribute no less than 6 percent and up to 15 percent of a participating employee's salary to an individual account and contribute a certain rate to the defined benefits plan in order to cover the plan's unfunded liabilities. - Amends TCA Title 8, Chapter 25, Part 1; Title 8, Chapter 25, Part 3; Title 8, Chapter 34; Title 8, Chapter 36 and Title 8, Chapter 37.

As introduced, effective July 1, 2012, creates a new defined contribution plan as a mandatory retirement package for newly hired state employees; closes existing defined-benefit pension plan to newly hired state employees; requires state agencies to contribute no less than 6 percent and up to 15 percent of a participating employee's salary to an individual account and contribute a certain rate to the defined benefits plan in order to cover the plan's unfunded liabilities. - Amends TCA Title 8, Chapter 25, Part 1; Title 8, Chapter 25, Part 3; Title 8, Chapter 34; Title 8, Chapter 36 and Title 8, Chapter 37.

Sen. Brian Kelsey [R]

Date	Chamber	Action
2012-01-12		P2C, ref. to S. FW&M Comm.
2012-01-10		Intro., P1C.
2011-12-22		Filed for intro.

HB2907 (Crossfiled) 2012-02-06 - Withdrawn.

Type	Source
Summary	https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB2171&ga=107
Text	https://www.capitol.tn.gov/Bills/107/Bill/SB2171.pdf