Pensions and Retirement Benefits - As enacted, revises the methods by which a local government employer wishing to participate in TCRS must pay the estimated increased pension liability created by a benefit improvement; requires the state to pay the estimated increased pension liability resulting from a benefit improvement affecting general employees or employees at institutions of higher education participating in the retirement system by amortizing the unfunded accrued liability over a period of time not to exceed 10 years from the date that the benefit improvement is established. - Amends TCA Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36 and Title 8, Chapter 37.
SB0990 has been assigned Public Chapter Number 132 by the Secretary of State.
  • Bill History
  • Amendments
  • Video
  • Summary
  • Fiscal Note
  • Votes
  • Actions For SB0990Date
    Effective date(s) 07/01/202304/18/2023
    Pub. Ch. 13204/18/2023
    Signed by Governor.04/04/2023
    Transmitted to Governor for action.03/24/2023
    Signed by H. Speaker03/23/2023
    Signed by Senate Speaker03/22/2023
    Enrolled and ready for signatures03/22/2023
    Passed H., Ayes 96, Nays 0, PNV 003/20/2023
    Am. withdrawn. (Amendment 1 - HA0100)03/20/2023
    Subst. for comp. HB.03/20/2023
    Rcvd. from S., held on H. desk.03/13/2023
    Engrossed; ready for transmission to House03/09/2023
    Passed Senate as amended, Ayes 32, Nays 003/09/2023
    Amendment withdrawn. (Amendment 1 - SA0055)03/09/2023
    Senate adopted Amendment (Amendment 2 - SA0092)03/09/2023
    Placed on Senate Regular Calendar for 3/9/202303/07/2023
    Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 9, Nays 0 PNV 002/28/2023
    Placed on Senate State and Local Government Committee calendar for 2/28/202302/21/2023
    Action deferred in Senate State and Local Government Committee to 2/28/202302/21/2023
    Placed on Senate State and Local Government Committee calendar for 2/21/202302/14/2023
    Passed on Second Consideration, refer to Senate State and Local Government Committee02/06/2023
    Introduced, Passed on First Consideration02/02/2023
    Filed for introduction01/31/2023
    Actions For HB0884Date
    Comp. became Pub. Ch. 13204/18/2023
    Comp. SB subst.03/20/2023
    H. Placed on Regular Calendar for 3/20/202303/16/2023
    Placed on cal. Calendar & Rules Committee for 3/16/202303/15/2023
    Rec. for pass. if am., ref. to Calendar & Rules Committee03/08/2023
    Placed on cal. State Government Committee for 3/8/202303/01/2023
    Rec for pass if am by s/c ref. to State Government Committee02/28/2023
    Placed on s/c cal Public Service Subcommittee for 2/28/202302/22/2023
    Action Def. in s/c Public Service Subcommittee to 2/28/202302/21/2023
    Placed on s/c cal Public Service Subcommittee for 2/21/202302/15/2023
    Assigned to s/c Public Service Subcommittee02/07/2023
    P2C, ref. to State Government Committee02/02/2023
    Intro., P1C.02/01/2023
    Filed for introduction01/30/2023
  • AmendmentsFiscal Memos
    SA0055Amendment 1-0 to SB0990Fiscal Memo for SA0055 (3775)  
    SA0092Amendment 2-0 to SB0990 
    AmendmentsFiscal Memos
    HA0100Amendment 1-1 to HB0884Fiscal Memo for HA0100 (3775)  

    NOTE: Each fiscal memorandum applies only to the amendment(s) identified in the memorandum. The fiscal memorandum must be matched to any amendments that have been adopted.

  • Videos containing keyword: SB0990

  • Fiscal Summary

    NOT SIGNIFICANT


    Bill Summary

    ON MARCH 9, 2023, THE SENATE ADOPTED AMENDMENT #2 AND PASSED SENATE BILL 990, AS AMENDED.

    AMENDMENT #2 adds that the failure to pay the estimated increased pension liability created by the improvement may result in the withholding of the liability amount, in whole or in part, from any state-shared taxes that are otherwise apportioned to the local government.

    This amendment also revises the provision in the bill that prohibits an employer from establishing a benefit improvement unless the employer's funded status in the retirement system will be 60 percent or more after implementation of the benefit improvement, such that the percentage must be 70 percent or more.

  • FiscalNote for SB0990/HB0884 filed under HB0884

  • House Floor and Committee Votes

    House moved to substitute and conform to SB0990

    SB0990 by Yager - FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 3/20/2023
    Passed
              Ayes...............................................96
              Noes................................................0

              Representatives voting aye were: Alexander, Barrett, Baum, Beck, Boyd, Bricken, Bulso, Burkhart, Butler, Campbell S, Camper, Capley, Carr, Carringer, Cepicky, Chism, Clemmons, Cochran, Crawford, Davis, Doggett, Eldridge, Faison, Farmer, Freeman, Fritts, Gant, Garrett, Gillespie, Glynn, Grills, Hakeem, Hale, Hardaway, Harris, Haston, Hawk, Hazlewood, Helton-Haynes, Hemmer, Hicks G, Hicks T, Holsclaw, Howell, Hulsey, Hurt, Jernigan, Johnson C, Johnson G, Jones, Keisling, Kumar, Lafferty, Lamberth, Leatherwood, Littleton, Love, Lynn, Marsh, Martin B, Martin G, McCalmon, McKenzie, Miller, Mitchell, Moody, Moon, Parkinson, Powell, Powers, Ragan, Raper, Reedy, Richey, Rudd, Rudder, Russell, Shaw, Sherrell, Slater, Sparks, Stevens, Terry, Thompson, Todd, Towns, Travis, Vaughan, Vital, Warner, White, Whitson, Williams, Wright, Zachary, Mr. Speaker Sexton -- 96.

              HB0884 by Moon - HOUSE CALENDAR & RULES COMMITTEE:
    H. Placed on Regular Calendar for 3/20/2023 3/16/2023
              Voice Vote - Ayes Prevail

              HB0884 by Moon - HOUSE STATE GOVERNMENT COMMITTEE:
    Rec. for pass. if am., ref. to Calendar & Rules Committee 3/8/2023
              Voice Vote - Ayes Prevail

              HB0884 by Moon - HOUSE PUBLIC SERVICE SUBCOMMITTEE:
    Rec for pass if am by s/c ref. to State Government Committee 2/28/2023
              Voice Vote - Ayes Prevail

    Senate Floor and Committee Votes

    SB0990 by Yager - FLOOR VOTE: as Amended Third Consideration 3/9/2023
    Passed
              Ayes...............................................32
              Noes................................................0

              Senators voting aye were: Akbari, Bailey, Bowling, Campbell, Crowe, Gardenhire, Haile, Hensley, Jackson, Johnson, Kyle, Lamar, Lowe, Lundberg, Massey, Niceley, Oliver, Pody, Powers, Reeves, Roberts, Rose, Southerland, Stevens, Swann, Taylor, Walley, Watson, White, Yager, Yarbro, Mr. Speaker McNally -- 32.

    SB0990 by Yager - SENATE STATE & LOCAL GOVERNMENT COMMITTEE:
    Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 9, Nays 0 PNV 0 2/28/2023
    Passed
              Ayes................................................9
              Noes................................................0

              Senators voting aye were: Briggs, Jackson, Kyle, Lowe, Pody, Stevens, Walley, Yager, Yarbro -- 9.