Tennessee SB0542 mandates divestment from investments in entities majority-owned by China for the state retirement system and political subdivision.
Tennessee SB0542 requires the Tennessee consolidated retirement system and political subdivision pension plans to divest from investments in companies majority-owned by China. The board of trustees and governing bodies must review holdings annually by January 15 and divest from restricted investments by December 31 each year. If divestment is not possible, a written plan must be developed by July 1 and submitted to the council on pensions. The act takes effect upon becoming law.
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