Tenn. Code Ann. § 8-36-304: Computation of allowance

The early service retirement allowance calculated under this part shall be computed as a service retirement allowance in accordance with part 2 of this chapter on the basis of the member's average final compensation and creditable service at the time of early service as follows: (1) (A) For a Group 1 member retiring under § 8-36-301(a)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date. If the member's creditable service is less than ten (10) years, the reduced benefit shall be further limited in accordance with the following: Creditable Service Percent Reduced Benefit Due at least 4 years.................... 10% at least 5 years.................... 25% at least 6 years.................... 40% at least 7 years.................... 55% at least 8 years.................... 70% at least 9 years.................... 85% at least 10 years.................... 100% (B) For a Group 1 member retiring under § 8-36-301(a)(2) , the actuarial equivalent of the benefit as reduced under subdivision (1)(A) which would be payable at fifty-five (55) years of age; (2) (A) For a Group 2 member retiring under § 8-36-301(b)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date; (B) For a Group 2 member retiring § 8-36-301(b)(2) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's attainment of fifty-five (55) years of age; and (3) For a Group 3 member retiring under § 8-36-301(c) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's completion of twenty-four (24) years of creditable service. Acts 1972, ch. 814, § 5; T.C.A., § 8-3909(a); Acts 1984, ch. 601, § 4; 1986, ch. 554, § 16; 1997 , ch. 67, § 3.

The early service retirement allowance calculated under this part shall be computed as a service retirement allowance in accordance with part 2 of this chapter on the basis of the member's average final compensation and creditable service at the time of early service as follows:

(1) (A) For a Group 1 member retiring under § 8-36-301(a)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date. If the member's creditable service is less than ten (10) years, the reduced benefit shall be further limited in accordance with the following: Creditable Service Percent Reduced Benefit Due at least 4 years.................... 10% at least 5 years.................... 25% at least 6 years.................... 40% at least 7 years.................... 55% at least 8 years.................... 70% at least 9 years.................... 85% at least 10 years.................... 100% (B) For a Group 1 member retiring under § 8-36-301(a)(2) , the actuarial equivalent of the benefit as reduced under subdivision (1)(A) which would be payable at fifty-five (55) years of age;

(A) For a Group 1 member retiring under § 8-36-301(a)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date. If the member's creditable service is less than ten (10) years, the reduced benefit shall be further limited in accordance with the following: Creditable Service Percent Reduced Benefit Due at least 4 years.................... 10% at least 5 years.................... 25% at least 6 years.................... 40% at least 7 years.................... 55% at least 8 years.................... 70% at least 9 years.................... 85% at least 10 years.................... 100%

Creditable Service Percent Reduced Benefit Due at least 4 years.................... 10% at least 5 years...................

ears.................... 10% at least 5 years.................... 25% at least 6 years.................... 40% at least 7 years.................... 55% at least 8 years.................... 70% at least 9 years.................... 85% at least 10 years.................... 100%

Creditable Service Percent Reduced Benefit Due at least 4 years.................... 10% at least 5 years.................... 25% at least 6 years.................... 40% at least 7 years.................... 55% at least 8 years.................... 70% at least 9 years.................... 85% at least 10 years.................... 100%

Creditable Service

Percent Reduced Benefit Due

at least 4 years....................

10%

at least 5 years....................

25%

at least 6 years....................

40%

at least 7 years....................

55%

at least 8 years....................

70%

at least 9 years....................

85%

at least 10 years....................

100%

(B) For a Group 1 member retiring under § 8-36-301(a)(2) , the actuarial equivalent of the benefit as reduced under subdivision (1)(A) which would be payable at fifty-five (55) years of age;

(2) (A) For a Group 2 member retiring under § 8-36-301(b)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date; (B) For a Group 2 member retiring § 8-36-301(b)(2) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's attainment of fifty-five (55) years of age; and

(A) For a Group 2 member retiring under § 8-36-301(b)(1) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's service retirement date;

(B) For a Group 2 member retiring § 8-36-301(b)(2) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's attainment of fifty-five (55) years of age; and

(3) For a Group 3 member retiring under § 8-36-301(c) , reduced by four-tenths of one percent (0.4%) for each month by which the member's date of early retirement precedes such member's completion of twenty-four (24) years of creditable service.