Public Funds and Financing - As enacted, revises law relative to pension plans and proxy advisors. - Amends TCA Title 9, Chapter 4.

Summary

The bill amends Tennessee’s investment statutes to require fiduciaries of public retirement plans to vote on shareholder proposals only for financial reasons, unless an economic analysis shows a different benefit, and to report those votes each year. It expands the definition of eligible retirement plans to include those run by local governments and clarifies the state treasurer’s investment authority. The aim is to keep investment decisions focused on beneficiaries’ financial returns.

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

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