8-35-318 - Local board of education not entitled to establish local fund. - Tennessee Statutes

8-35-318. Local board of education not entitled to establish local fund.

(a)  Any other provision of the law to the contrary notwithstanding, a local board of education shall not be entitled to establish a local teacher retirement fund.

(b)  Notwithstanding the foregoing, this section shall not affect the rights, benefits and privileges of teachers presently participating in a local retirement fund.

[Acts 1989, ch. 505, § 8.]