Amends TCA Title 8, Chapter 34, Part 3.

This bill authorizes TCRS to procure goods and services for a pension administration system that may replace the system currently in existence on the day that this bill becomes a law. Any such procurement will be subject to appropriation made in the general appropriations act. This bill authorizes TCRS to pay from the earnings of the Tennessee retiree group trust and charge some or all of the group trust participants the cost for the development and implementation of the replacement system, as well as other technology improvements; provided, however, that any costs associated with the on-going maintenance of the replacement system or such improvements, or the state personnel necessary for maintaining the replacement system or such improvements, must not be funded pursuant to this bill.