The Crossville City Council approved a motion to accept a proposal from the Tennessee Consolidated Retirement System to re-enter the plan effective July 1, 2024. TCRS is a statewide retirement pension plan and is recognized as one of the top 5 funds in the U.S. Since the City left the plan in 2013, the Police and Fire Departments say it has been more difficult to recruit and retain employees. Workers in those fields often have time vested in TCRS and are reluctant to relocate to Crossville where their retirement will not carry over. Employees hired prior to June 30, 2013 would remain in the Legacy Plan, while new employees hired after July 1, 2024 would be enrolled in a hybrid plan where the employee would also make contributions. Employees hired between 2013 and 2024 would have the option to enroll in the TCRS Hybrid plan.
City of Crossville to Rejoin the Tennessee Consolidated Retirement System
Feb 14, 2024 | 9:29 AM