8-27-205 - Group insurance plans for retirees Schedule of premium payments.
8-27-205. Group insurance plans for retirees Schedule of premium payments.
(a) The committee established in § 8-27-101, may establish a group insurance plan or plans, as it deems necessary and reasonable, for the benefit of retired state employees and retired employees of the University of Tennessee and the state university and community college system. Such plans may be made available to retired employees who are drawing benefits through the consolidated retirement system and to retired employees of the University of Tennessee and the state university and community college system who are drawing benefits through the consolidated retirement system or any other retirement plan as a result of their employment with the University of Tennessee or the state university and community college system. The committee may, at its discretion, determine the benefits package, administrative procedures, eligibility provisions and rules relating to the group insurance plans.
(b) (1) The committee is authorized to establish a schedule of premium payments for retirees participating in the group insurance plan established under this part. The schedule shall be based upon the total monthly plan premiums for all participants and the retiree's contribution shall be graduated to reflect the retiree's length of service. For retirees with less than twenty (20) years of service, the retiree shall pay forty percent (40%) of the total premium under the state plan. For retirees with twenty (20) but less than thirty (30) years of service, the retiree shall pay thirty percent (30%) of the total premium under the state plan. For retirees with thirty (30) or more years of service, the retiree shall pay twenty percent (20%) of the total premium under the state plan.
(2) Years of service, as used in this subsection (b), means only those years of service rendered by the retiree as a state employee, as such term is defined in § 8-27-201(g), or as a teacher as defined in § 8-34-101, and upon which the retiree's monthly retirement allowance is based. Years of service, as used in this subsection (b), shall also mean those years of service rendered by a retiree prior to July 1, 2002, as an employee of any board, commission or agency created by the supreme court of Tennessee, regardless of whether the retiree established such service in the consolidated retirement system pursuant to § 8-35-115.
[Acts 1983, ch. 375, § 2; 1997, ch. 159, § 1; 1997, ch. 513, § 5; T.C.A. § 8-27-209; Acts 1999, ch. 396, § 1; 2001, ch. 58, § 1; 2002, ch. 863, § 19.]