8-37-204 - Certification of rate of contribution Deduction of contribution from compensation by employer.
8-37-204. Certification of rate of contribution Deduction of contribution from compensation by employer.
The board of trustees shall certify to the commissioner of finance and administration and the state treasurer, in the case of any employee paid by warrants on the state treasurer, or to the department, institution, commission, board or agency by which the salary of any employee is paid, the proportion or percent to be deducted from the compensation of each member.
(1) Such authority or officer shall cause to be deducted from the compensation of each member, on each and every payroll of such employer for each and every payroll period, the percentage of earnable compensation applicable to such member.
(2) To facilitate the making of deductions, the authority or officer may modify the deduction required of any member by such an amount as shall not exceed one tenth of one percent (.1%) of the annual earnable compensation upon the basis of which such deduction is made.
[Acts 1972, ch. 814, § 8; T.C.A., § 8-3930(1).]