Except as otherwise provided herein, all regular full-time employees of the Tennessee Board of Regents and of institutions governed by the Tennessee Board of Regents shall be members of a state-supported retirement system, subject to the eligibility provisions of T.C.A. § 8-35-101 et seq.
Regular part-time employees are eligible to become members of a state-supported retirement system, but such membership is not mandatory.
Regular academic, executive, administrative, and professional employees of the Board and institutions shall have the option of becoming members of either the Tennessee Consolidated Retirement System or the Board of Regents Optional Retirement Program, pursuant to T.C.A. § 8-35-101 et seq., and policies and guidelines of the Board.
Any person who has served as the president of an institution under the Board of Regents for a period of not less than ten (10) years and has attained the age of sixty (60) while being employed by the Board may, upon approval of the Board, be retired as President Emeritus of the institution where he/she served a minimum of ten (10) years.
For either retirement system (TCRS or ORP), the limit to employer contributions made on behalf of employees employed after July 1, 1996 is $210,000. There is no contribution limit for employees employed before July 1, 1996.
Additionally, for employees enrolled in the ORP, there is also an annual aggregate contribution limit for contributions to the ORP and 401(k). This limit is defined on an annual basis.
Source: Tennessee Board of Regents (TBR) Personnel Policy No. 5:01:03:00.