Pensions and Retirement Benefits - As enacted, enacts the "Tennessee Trump Account Program Act." - Amends TCA Title 4; Title 8; Title 9 and Title 50.

SB 2397 creates the "Tennessee Retirement Savings Plan Act," establishing a state-run retirement savings program for employed Tennessee residents. The bill forms a Tennessee Retirement Savings Board (with 7 members, including employer and employee representatives) to develop and administer a voluntary, defined contribution retirement plan similar to a 401(k). The board will set investment rules, manage fees, and oversee the plan’s operations through the state treasury. This program directly affects working Tennesseans who can choose to contribute to the plan, with no requirement for employers to participate.