December 22, 2011
Press Release from the Tennessee State Senate Republican Caucus, Dec. 22, 2011
State Senator Brian Kelsey (R-Germantown) announced today he has introduced legislation that would reform the way pensions are calculated for new state employees. The plan would be offered for new state employees but not for local government employees or for education workers. Kelsey said the proposal would establish a privately managed cash-balance plan to eventually replace the Tennessee Consolidated Retirement System defined benefits plan, participation in which would continue to remain available for current employees.
The legislation is the tenth in a series of announcements by Kelsey in his “12 for ’12” initiative for the next legislative session, which is set to reconvene January 10, 2012...
LINK - TNReport.com
