A retirement system is established and placed under the management of the board of trustees for the purpose of providing retirement allowances and other benefits under the provisions of this chapter for teachers of the state. The retirement system so created shall be established as of July 1, 1945.It shall have the power and privilege of a corporation and shall be known as the 'Tennessee Teachers' Retirement System,' and by such name all of its business shall be transacted, all of its funds invested, and all of its cash and securities and other property held in trust for the purpose for which received.Acts 1945, ch. 29, § 2; C. Supp. 1950, § 2540.2 (Williams, § 2524.2).
Tennessee Legal Code