Tennessee Retirement Savings Plan Act
Amends TCA Title 4; Title 8; Title 9 and Title 50.
HB1447, titled the "Tennessee Retirement Savings Plan Act," proposes the establishment of a state-sponsored retirement savings plan aimed at providing retirement savings options for private sector employees in Tennessee. The bill affects employers and employees by creating a framework for automatic enrollment in the plan, while also outlining the responsibilities of the state and participating employers. Key provisions include the establishment of contribution rates, investment options, and administrative guidelines for the management of the retirement savings plan.
HB1447, titled the "Tennessee Retirement Savings Plan Act," proposes the establishment of a state-sponsored retirement savings plan aimed at providing retirement savings options for private sector employees in Tennessee. The bill affects employers and employees by creating a framework for automatic enrollment in the plan, while also outlining the responsibilities of the state and participating employers. Key provisions include the establishment of contribution rates, investment options, and administrative guidelines for the management of the retirement savings plan.
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