General Assembly - As introduced, requires the board of trustees of the Tennessee consolidated retirement system to convert a person's participation in the retirement system, for service as a member of the general assembly and as a participant in the hybrid plan, from the hybrid plan to the legacy plan upon the person completing 10 years of service as a member of the general assembly if the person became a member of the general assembly on or after July 1, 2014. - Amends TCA Title 3; Title 8, Chapter 34; Title 8, Chapter 35 and Title 8, Chapter 36.

HB 462 requires Tennessee's retirement board to automatically switch eligible state legislators from the hybrid retirement plan to the legacy plan after they complete 10 years of service in the General Assembly. This applies only to legislators who joined the Assembly on or after July 1, 2014, and affects their retirement benefits for service as lawmakers. The bill mandates the board to provide written notification after the switch and requires the Office of Legislative Administration to alert the board when a legislator reaches the 10-year milestone. The change takes effect July 1, 2025, applying to legislators completing 10 years of service on or after July 1, 2024.