Tennessee General Assembly Makes Historic $250 Million Contribution To TCRS Wednesday, May 12, 2021
The 112th Tennessee General Assembly appropriated a historic one-time additional contribution of $250 million to the Tennessee Consolidated Retirement System State and Higher Education plan. The largest single contribution in the history of TCRS, this appropriation will further bolster the pension and help lower future recurring contributions, said offiicials.
TCRS has been consistently recognized as one of the best-funded public pensions in the nation, due largely to every governor budgeting and every General Assembly appropriating sufficient money to fund the pension based on the requirements set by the actuary and TCRS Board of Trustees, said officials.
Gov. Lee Delivers 3rd State of the State Address
February 10, 2021
February 8, 2021
Today, Tennessee Governor Bill Lee delivered his third State of the State address and presented budget and legislative priorities to a joint session of the General Assembly.
In addition to outlining budget and legislative priorities, the governor provided an accounting of Tennessee’s COVID-19 response and continued economic recovery.
Budget Breakdown
An overview of the proposed budget can be found here in addition to a video explaining key budget highlights and a video of the Tennessee state budget process.
Gov. Lee’s remarks as prepared for delivery are below:
NASHVILLE, Tenn. (AP) Thank you very much. Lieutenant Governor McNally, Speaker Sexton, Speaker Pro Tem Haile, Speaker Pro Tem Marsh, Members of the 112th General Assembly, Justices,.
Hakeem Says State Should Divest Itself Of Nearly $80 Million In McDonald s Stock Due To Allegations By Black Franchisees Wednesday, December 9, 2020
Rep. Yusuf Hakeem said the state should divest itself of almost $80 million in McDonald s Restaurant stock because of allegations in a lawsuit brought by some Black franchiees.
His letter says:
Dear Treasurer Lillard,
I write to concur with the request made of you by Representative Towns in September of this year to reconsider the Tennessee Treasury s investment in McDonald s stock. The allegations in the amended complaint filed against McDonald s on behalf of 77 former Black franchisees are disturbing, and even more troubling is the significant decline in the number of McDonald s Black franchisees. I share the concern expressed by Representative Towns that the Tennessee Treasury currently holds nearly $80 million of McDonald s stock and I likewise believe we should use this moment to take a stand for racial e