Tennessee Code Title 8. Public Officers and Employees § 8-36-909

(b)(1) The minimum service retirement allowance payable under the defined benefit component of the plan with respect to creditable service established pursuant to § 8-35-226 shall not be less than seven dollars ($7.00) per month for each year of such creditable service, except as provided in subsection (e).

(2) Notwithstanding subdivision (b)(1), the chief legislative body of any city, special school district or county may set the minimum service retirement allowance payable with respect to creditable service established pursuant to § 8-35-226 in the amount as determined and in effect pursuant to § 8-36-209(a)(2)(A)(i) or § 8-36-209(a)(2)(A)(ii). Such amount shall be adjusted on each July 1 thereafter pursuant to the cost-of-living provisions in § 8-36-701(b)(1) and (2).

(3) To set the minimum service retirement allowance under either § 8-36-209(a)(2)(A)(i) or (a)(2)(A)(ii), the chief legislative body of the respective city, special school district or county must pass a resolution authorizing the provisions of either § 8-36-209(a)(2)(A)(i) or (a)(2)(A)(ii) and accepting the liability therefore. Any such resolution shall apply to current and future retirees of the hybrid plan and shall become effective on the first day of any quarter following the filing of the resolution with the retirement system. No retroactive benefits shall be paid under subdivision (b)(2).

(2) Any recipient eligible for a benefit pursuant to subdivision (c)(1) may elect to receive an amount less than the amount that the recipient is otherwise eligible to receive; provided, that the election is in writing and irrevocable.

(e)(1) In no event shall the minimum retirement allowance payable hereunder exceed ninety percent (90%) of the participant's average final compensation as may be adjusted by the cost-of-living provisions of § 8-36-701(b)(1) and (2).

(2) For purposes of determining the limitations on the amount of the retirement allowance as provided in this subsection (e), the average final compensation for service granted under § 8-35-226 shall be independent of the average final compensation calculation on any other creditable service in the retirement system, and the average final compensation for service granted as a member of the general assembly shall be independent of the average final compensation calculation on any other creditable service in the retirement system.