8-39-102 - Eligibility of teachers Amount of allowances.
8-39-102. Eligibility of teachers Amount of allowances.
All teachers who have taught in the public schools of Tennessee for a period of not less than eight (8) years, and who have reached the age of sixty-five (65), or are disabled to perform productive work as determined by the standards currently applicable to the members of the former Tennessee teachers' retirement system seeking disability benefits, and who are not otherwise covered by any other teachers' retirement act now in effect in this state, shall be entitled to a monthly retirement allowance equal to the product of six dollars and fifty cents ($6.50) for teachers with less than ten (10) years of service and eight dollars ($8.00) for teachers with ten (10) or more years of service, multiplied by the number of years of teaching experience.
(1) The maximum sum payable hereunder shall be the sum of two hundred forty dollars ($240) per month regardless of the number of years taught.
(2) Any former teachers retiring under the provisions of this part shall be entitled to any increase in benefit as provided for in § 8-36-701 as though they were retired members of the Tennessee consolidated retirement system.
(3) Notwithstanding any other provisions to the contrary, one who taught a minimum of eight (8) years in this state, part of which was prior to the establishment of the Tennessee teachers' retirement system, shall be eligible to receive retirement benefits based upon years taught prior to the establishment of the Tennessee teachers' retirement system; provided, that the years have been or are eligible to be established in the Tennessee consolidated retirement system.
[Acts 1949, ch. 220, § 1; C. Supp. 1950, § 2540.15 (Williams, § 2524.16); modified; Acts 1961, ch. 75, § 1; 1963, ch. 378, § 1; 1965, ch. 166, § 1; 1969, ch. 153, § 1; 1972, ch. 460, §§ 1, 2; Acts 1972, ch. 671, § 1; 1973, ch. 315, § 1; 1974, ch. 714, §§ 1-3; 1976, ch. 840, § 1; T.C.A., § 49-1311(a); Acts 1984, ch. 745, §§ 2, 3.]