SB 1976

Pensions and Retirement Benefits - As enacted, provides under the Public Employee Defined Benefit Financial Security Act of 2014 that the measurement standard used to determine a pension plan's funded status must be done in accordance with rules, standards, guidelines, and interpretations established by the governmental accounting standards board; provides that for political subdivision with an existing pension plan as of May 22, 2014, the political subdivision must not establish a new pension plan until it has received written approval from the state treasurer. - Amends TCA Title 9, Chapter 3, Part 5.