2017 Tennessee Code
Title 9 - Public Finances
Chapter 4 - State Funds, State Budget and Appropriations
Part 12 - Teacher Legacy Pension Stabilization Reserve Trust
§ 9-4-1202. Teacher legacy pension stabilization reserve trust fund.
The teacher legacy pension stabilization reserve trust is created. The teacher legacy pension stabilization reserve trust fund shall be established and funded through a mechanism and methodology as shall be determined in the future by the commissioner of finance and administration and the state treasurer. The trust and the funds therein shall be administered by the department of the treasury. The trust fund shall be an irrevocable trust for the benefit of teachers who are members of the legacy plan. The assets of the trust fund shall be preserved, invested, and expended solely pursuant to and for the purposes of this part and shall not be loaned or otherwise transferred or used for any other purpose. The attorney general and reporter shall approve the terms of the trust instrument.
