Bill > SB0008

This bill, known as the "Fairness in Benefits Act", requires employers participating in the Tennessee consolidated retirement system to permit private entities to share information and educational materials about alternative retirement plans with their employees. Specifically, these materials can be distributed on the employer's premises, but only outside of employees' official work hours and through direct contact with the private entity's representatives. The alternative retirement plans must be comparable to qualified retirement plans as defined by various sections of the Internal Revenue Code, such as 401(k), 403(b), and 457(b) plans. This means that employees will have the opportunity to learn about additional retirement savings options from private entities while ensuring that such information sharing does not interfere with work responsibilities. The bill aims to provide employees with more comprehensive information about retirement planning and potential supplemental benefits beyond their current employer-provided retirement system.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0008&ga=114