Pensions and Retirement Benefits - As enacted, requires the TCRS board of trustees to divest the retirement system from investment activity it has in a company known to be majority-owned by China; requires a local governing body to divest its political subdivision pension plan from investment activity it has in a company known to be majority-owned by China. - Amends TCA Title 9, Chapter 4, Part 15.

HB 805 requires Tennessee’s state retirement system (TCRS) and local government pension funds to sell investments in companies majority-owned by China (including its government, military, or affiliated entities) by specific deadlines. The TCRS board and local governing bodies must annually review direct investments by January 15, divesting from any "restricted entities" by December 31 of the same year. If immediate divestment isn’t possible, a written plan must be created by July 1 and implemented by year-end, following fiduciary standards. This law, effective April 24, 2025, applies directly to all state and local pension plans managed under Tennessee Code Title 9, Chapter 4, Part 15.