"This bill transfers the authority to appoint the three teacher members who serve on the board of trustees for the Tennessee consolidated retirement system (TCRS) from the Tennessee education association to the speaker of the senate and the speaker of the house of representatives. The speaker of the house will appoint the teacher trustee from the middle grand division of the state and the speaker of the senate will appoint the teacher trustees from the eastern and western grand divisions.

This bill also transfers the authority to appoint the retired teacher member who serves as a TCRS trustee from the Tennessee retired teachers association to the speaker of the house.

Any TCRS trustees who were appointed by the Tennessee education association or the Tennessee retired teachers association as of the date that this bill becomes a law will be permitted to serve out their terms."