Amends TCA Title 9, Chapter 4.

Tennessee SB2641 mandates that individuals administering retirement programs for local governmental entities prioritize financial considerations when investing and managing program assets, explicitly excluding environmental, social, and governance (ESG) factors. The bill affects fiduciaries involved in public retirement programs, including the Tennessee Consolidated Retirement System (TCRS) and non-TCRS programs, requiring them to conduct economic analyses to justify their investment decisions and voting on shares. Key provisions include the emphasis on financial-only criteria for investment decisions and the obligation for fiduciaries to demonstrate the financial rationale behind their actions.