Pensions and Retirement Benefits - As introduced, expands the period of peacetime military service of a member of the Tennessee Consolidated Retirement System (TCRS) that the member may purchase for creditable service in TCRS. - Amends TCA Title 8, Chapter 34.

HB 756 allows Tennessee Consolidated Retirement System (TCRS) members to purchase credit for peacetime military service (since October 15, 1940) toward their retirement benefits. It directly affects current and retired TCRS members who served in the U.S. military during peacetime. The bill establishes a 1:1 credit ratio (one day of service for each day served), requiring members to pay 9% of their earnable compensation as contributions for the military service period. The law takes effect July 1, 2025, and does not change retirement eligibility or benefit calculations beyond this credit expansion.