As of July 1, 2014 all newly hired eligible employees are automatically enrolled into the Hybrid Pension Plan. The 401k component of the plan includes an auto-enrolled 2% contribution from you. You can change the amount of this percentage by contacting Empower Retirement Services by visiting www.empower-retirement.com or you may also call (800) 922-7772. Please note, by continuing to contribute, the state will also contribute a dollar for dollar match contribution up to $50 per month. For those eligible in the Hybrid Plan, there is also a 5% benefit amount contributed by the state to your plan regardless of whether or not you contribute to 401k.
For more detailed information on the Hybrid plan, please visit: http://treasury.tn.gov/tcrs/PDFs/FAQsHybridpensionplan.pdf