House Bill 462, sponsored by Travis, amends Tennessee Code Annotated to modify retirement system participation for members of the general assembly. The bill introduces a new provision that allows members who joined the assembly on or after July 1, 2014, to convert their retirement plan from the hybrid plan to the legacy plan after completing ten years of service. This conversion is mandated despite any conflicting laws, and the board of trustees is required to notify the member in writing once the conversion is completed. Additionally, the office of legislative administration is tasked with informing the board when a member reaches the ten-year service milestone.

The act is set to take effect on July 1, 2025, and will apply to those members who complete their ten years of service on or after July 1, 2024. This change aims to provide a clearer pathway for long-serving members of the general assembly regarding their retirement options.

Statutes affected:
Introduced: 8-36-903