NASHVILLE, Tenn. – State Senator Todd Gardenhire (R-Chattanooga) has been appointed to the Tennessee Council on Pensions and Retirement. The announcement was made by Senate Finance, Ways and Means Committee Chairman Bo Watson (R-Hixson), who also serves on the Council, as the General Assembly started its first full week of the 2017 legislative session.
Gardenhire will be one of eight state senators serving on the Council. The House of Representatives will also select eight members to serve.
“Sen. Gardenhire was a natural pick for this council with vast experience in financial management,” said Chairman Watson. “I am sure he will do a tremendous job in safeguarding our pension system.”
Tennessee’s pension system is ranked as one of the top four funded pensions in the nation by the Pew Charitable Trusts.
Created as a legislative oversight committee, the Council on Pensions and Insurance develops, recommends, and establishes pension and retirement standards and maintains a progressive state policy on retirement. Additionally, the 16-member Council reviews legislation affecting state provided insurance programs for both active and retired members of the Tennessee Consolidated Retirement System. The Council has five non-voting members including the Commissioner of Finance and Administration, the State Treasurer, the Comptroller of the Treasury and Commissioner of Human Resources.
From 2006 – 2010, Gardenhire was a Presidential appointee to the Pension Benefit Guaranty Corporation (PBGC) Advisory Committee where he was appointed Chair by an Executive Order signed by President George W. Bush. The Pension Benefit Guaranty Corporation (PBGC) protects the retirement benefits of more than 40 million workers and retirees. He also served on the Employee Retirement Income Security Act (ERISA) Advisory Council, was U.S. Department of Labor Investment Management Representative from 2000-2005 and was U.S. Department of Labor Investment Counseling Representative from 1985-1987. In 2004, he was named Washington Impact Player of the Year by Institutional Investor News.
In addition to serving on the Senate Finance Committee, Gardenhire serves as 2nd Vice-Chair of the Senate Education Committee and is a member of the Senate State and Local Government Committee.