SB3054 - Tennessee: Fiduciaries, Local Government, General, Trusts

Companion Bill HB3505. Trusts - Authorizes the investment committee of a political subdivision to adopt an investment policy authorizing the investment and management of trust assets in accordance with the investment policy the political subdivision uses to manage pension assets; requires that the pension management fund conform to the Tennessee Uniform Prudent Investor Act in order for this authorization to apply. - Amends TCA Title 8. Fiscal Summary for *SB3054 / HB3505Increase Local Expenditures - Not Significant Bill Summary for *SB3054 / HB3505 Under present law, a political subdivision may, by resolution adopted and approved by its chief governing body, establish an investment trust for the purpose of pre-funding other post-employment benefits accrued by employees of the political subdivision, to be paid as they come due in accordance with [...]

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