SB 2018

Present law authorizes a person or entity administering or providing services to a government employee's deferred compensation plan to respond to a subpoena duces tecum that requires the production of all or part of the records of the plan relating to a present or former plan participant, in an action in which such a person or entity is not a party, by filing with the court clerk or issuer a true and correct copy of all records specifically described in the subpoena via certified or registered mail. Thi s bill also authorizes such records to be produced via an electronic submission. Present law requires the records described above to be accompanied by an affidavit of a custodian stating in substance that the affiant is the duly authorized custodian of the records and has the authority to certify the records and that the copy is a tr ue copy of all the records described in the subpoena. This bill also allows the records to be accompanied by a declaration as permitted under the Tennessee Rules of Civil Procedure to satisfy this requirement. TENNESSEE CONSOLIDATED RETIREMENT SYSTEM (TCRS) Present law authorizes an employee of TCRS to respond to a subpoena duces tecum that requires the production of all or any part of the records of TCRS relating to any member, prior member, or retiree of the retirement system, in an action or proceeding i n which the retirement system is not a party, by filing with the court clerk or issuer, a true and correct copy of all records specifically described in the subpoena via certified or registered mail. This bill also authorizes such records to be produced vi a an electronic submission. Present law requires the records described above to be accompanied by an affidavit of a custodian stating in substance that the affiant is the duly authorized custodian of the records and has the authority to certify the records and that the copy is a tr ue copy of all the records described in the subpoena. This bill also allows the records to be accompanied by a declaration as permitted under the Tennessee Rules of Civil Procedure to satisfy this requirement. BENEFIT PAYMENTS AFTER DEATH OF A PAYEE Present law generally requires monthly TCRS benefit payments to cease in the month in which the payee dies. If the payee was a retired member who did not elect an optional allowance, a monthly benefit must be issued for the month in which the retired me mber died and is payable to the person nominated as a beneficiary by the member. This bill, instead, requires that such a final payment be made payable to the deceased member. Further, if the payee was a beneficiary receiving benefits under the terms of a n optional allowance, a monthly payment must be issued for the month in which the beneficiary died and must be paid to the beneficiary. REEMPLOYMENT Present law allows a retired member or prior class member of TCRS, and a retiree of a local retirement fund receiving benefits to return to service temporarily in a position covered by TCRS and continue to draw the person's retirement allowance if certai n conditions are met. However, for a member returning to temporary reemployment with an effective date of retirement between July 1, 2022, and June 30, 2027, this bill requires the member be treated as receiving an in-service distribution if TCRS discove rs that the member did not have a bona fide separation of service. The member must not continue to receive an in-service distribution and must have a bona fide separation of service before starting another temporary reemployment period.