Title
Approval of FY24-25 TCRS Rate
Body
SUMMARY: The Tennessee Consolidated Retirement System (TCRS) rate is computed every year and this is the rate the City must pay to TCRS for the retirement plan. The minimum rate for upcoming fiscal year is 12.76%; however, the Finance Director suggests a higher contribution of 13%.
BUDGET ACCOUNT: Various departments
Recommended Action
NECESSARY COUNCIL ACTION: Approve the 13% rate