The New Tennessee Consolidated Retirement System 2008 Annual Report is out, covering the period July 1, 2007 - June 30, 2008. (Most of the stock market losses for 2008 are not reflected,)The report shows the annual costs of the retirement system to taxpayers has grown to $593 million for the State Govt taxpayers and $244 million for Local Govt taxpayers. For the first time ever, the number of people on the retirement payroll exceeds 100,000. The proportion of retirement costs paid by employees continues to decline.
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