(1) The maximum sum payable hereunder shall be the sum of two hundred forty dollars ($240) per month regardless of the number of years taught.
(2) Any former teachers retiring under this part shall be entitled to any increase in benefit as provided for in § 8-36-701 as though they were retired members of the Tennessee consolidated retirement system.
(3) Notwithstanding any other provisions to the contrary, one who taught a minimum of eight (8) years in this state, part of which was prior to the establishment of the Tennessee teachers' retirement system, shall be eligible to receive retirement benefits based upon years taught prior to the establishment of the Tennessee teachers' retirement system; provided, that the years have been or are eligible to be established in the Tennessee consolidated retirement system.
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