Amends TCA Title 4 and Title 8.

This bill authorizes any member of TCRS to obtain creditable service for prior service while a participating member of a local government retirement system by notifying the TCRS board of trustees and the board of trustees of the local government retirement system. Upon receiving the notice, the board of trustees of the local government retirement system will be required to transfer to TCRS all employer and employee contributions made by or on behalf of the member, plus interest. Upon receipt of the funds, the member must be credited with the years of service, not to exceed the years of actual service, as the amount will warrant without creating any unfunded actuarially accrued liability.<br /> <br /> ON APRIL 12, 2021, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1520, AS AMENDED.<br /> <br /> AMENDMENT #1 extends this bill's authorization to obtain creditable service for prior service to TCRS members with prior participation in the retirement system of a utility district or other political subdivision to the same extent as this bill would do for TCRS members with prior service while a participating member of a city, metropolitan government, or county retirement system.<br />