Pensions and Retirement Benefits - As enacted, enacts the "Tennessee Trump Account Program Act." - Amends TCA Title 4; Title 8; Title 9 and Title 50.

Summary

The bill creates the Tennessee Retirement Savings Board, a seven‑member body that will design and operate a defined‑contribution retirement plan for private‑sector employees. Employers with more than five employees must offer the plan unless they already provide a qualified retirement program, and workers are automatically enrolled at a 5% contribution rate that they can opt out of. The measure aims to increase retirement savings for Tennesseans who lack employer‑sponsored plans.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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