HB1296 — Pensions and Retirement Benefits - As introduced, allows a retirement allowance increase equal to the percentage increase in the consumer price index if there is an over-collection of state tax revenue; requires this allowance increase to be used instead of the allowance increase in present law, which cannot exceed 3 percent. - Amends TCA Section 8-36-701.

HB1296 — Pensions and Retirement Benefits - As introduced, allows a retirement allowance increase equal to the percentage increase in the consumer price index if there is an over-collection of state tax revenue; requires this allowance increase to be used instead of the allowance increase in present law, which cannot exceed 3 percent. - Amends TCA Section 8-36-701. · Informed CitizenryHB1296 amends Tennessee Code Annotated Section 8-36-701 to modify how cost-of-living adjustments are calculated for retirement system beneficiaries. Starting July 1, 2025, if there is an over-colle…Open in Informed Citizenry