The State Treasurer is a constitutional officer elected every two years in a joint session of the Tennessee General Assembly. The Treasurer is charged with various responsibilities, most relating to the financial operations of state government including managing over $50 billion in assets through its various investment programs. The Tennessee Treasury Department is responsible for receiving, investing and disbursing public funds, and managing all state investments including the pension fund. The Treasurer is a member of more than 30 Boards and Commissions. Additional duties have been delegated to the Treasury Department by the General Assembly. Unlike many other state governments, Tennessee does not rely heavily on private fund managers to manage its investments. The Treasury’s Investment Division uses an in-house staff with extensive education, professional training and certifications. This team includes members with substantial institutional investor experience in both the public and private sectors, and it often outperforms private fund managers. Treasury manages many benefits for state, higher ed, public school teacher, and some local gov, including the defined benefit pension plan, the Tennessee Consolidated Retirement System, and the new, cutting-edge retirement plan that combines TCRS with a 401k. Additionally, the Treasury Department administers the TNStars College Savings 529 Plan, the state's Unclaimed Property program, the Tennessee Financial Literacy Commission.
