2014 Tennessee Code
Title 8 - Public Officers And Employees
Chapter 36 - Retirement Benefits
Part 3 - Early Service Retirement
§ 8-36-304 - Computation of allowance.

The early service retirement allowance calculated under this part shall be computed as a service retirement allowance in accordance with part 2 of this chapter on the basis of the member's average final compensation and creditable service at the time of early service as follows:

(1) (A) For a Group 1 member retiring under the provisions of § 8-36-301(a)(1), reduced by four tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date. If the member's creditable service is less than ten (10) years, the reduced benefit shall be further limited in accordance with the following: Click here to view image.

(B) For a Group 1 member retiring under the provisions of § 8-36-301(a)(2), the actuarial equivalent of the benefit as reduced under the provisions of subdivision (1)(A) which would be payable at fifty-five (55) years of age;

(2) (A) For a Group 2 member retiring under the provisions of § 8-36-301(b)(1), reduced by four tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date.

(B) For a Group 2 member retiring under the provisions of § 8-36-301(b)(2), reduced by four tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's attainment of fifty-five (55) years of age; and

(3) For a Group 3 member retiring under the provisions of § 8-36-301(c), reduced by four tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's completion of twenty-four (24) years of creditable service.