8-36-305 - Minimum allowances. - Tennessee Statutes

8-36-305. Minimum allowances.

(a)  The minimum early service retirement allowance payable to any member in Group 1, 2 or 3 shall be the minimum service retirement allowance computed in accordance with § 8-36-209(a) on the basis of the member's creditable service at the time of early retirement, reduced by four tenths of one percent (.4%) for each month by which the member's date of early retirement precedes such member's service retirement date.

(b)  The minimum early service retirement allowance payable to a transferred Class A member or a transferred Class B member shall be equal to a minimum service retirement allowance computed in accordance with the provisions of § 8-36-209(b) on the basis of the member's creditable service at the time of early retirement.

[Acts 1972, ch. 814, § 5; 1975, ch. 315, § 5; T.C.A., §§ 8-3909(b), 8-3909(c).]