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During the 2012 session, the General Assembly passed legislation which expanded the TCRS retirement options a local government can offer its employees. These options include a modified version of the current legacy plan (known as Plan 2), a hybrid plan with both defined benefit and defined contribution components (known as Plan 3), and a defined contribution plan (known as Plan 4). Since these changes are optional, there is no requirement for local governments to implement these changes. In order to adopt a new plan, political subdivisions are required to pass a resolution. For more information, please refer to:

PowerPoint Presentation
Summary of Plans


As of July 1, 2014, local governments have the option to offer an additional hybrid plan to their employees. Please note: the Hybrid Plan with Cost Controls is not recommended for any agency with fewer than 100 employees. Since this plan is optional, there is no requirement for local governments to implement a change. In order to adopt a new plan, political subdivisions are required to pass a resolution. Fore more information, please refer to:

PowerPoint Presentation
Hybrid Plan Comparison
Summary of Plan


Statement No. 25 of the Governmental Accounting Standards Board was amended by
Statement No. 67 of the Governmental Accounting Standards Board. Statement No. 67 became
effective for the plan’s financial statements for the fiscal year beginning after June 15, 2013.
Statement No. 67 establishes financial reporting standards for state and local government
pension plans that are administered through trusts or equivalent arrangements. For more information, please refer to:

GASB 67 Actuarial Report

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