March 8, 2007
McNally Assigned to Council on Pensions and
Nashville, Tenn. – State Sen. Randy McNally (R-Oak Ridge) will once again be serving as Vice Chairman of the Council on Pensions and Insurance.“The Tennessee Consolidate Retirement System (TCRS) is a great asset for Tennessee,” McNally said. “It is important, however, for us to make sure that it is managed properly. With assets totaling over $30 billion, Tennessee is one of the few state pensions that does not have unfunded liability. I look forward to working with the State Treasurer, Comptroller of the Treasury and the Council to ensure that we are doing what is best for the citizens of Tennessee.”
The Council was created to develop and recommend standards and state policy relating to pensions and insurance for state and local governments. It also reviews all proposed legislation dealing with pension and insurance matters.
The joint committee is made up of the officers of the House and Senate Finance, Ways and Means Committees; three members appointed by the chairman from each finance committee; and two members, each appointed by the speaker of the respective houses. The Council also includes, on an ex officio basis, the Comptroller of the Treasury, the State Treasurer, the commissioners of Personnel and Finance and Administration, and the director of the retirement system.
Serving his sixth term in the state Senate, McNally serves as Chairman of the Senate Finance, Ways and Means Committee. He is also the Vice Chairman of the Senate Rules Committee and a member of the Senate General Welfare, Health and Human Resources Committee.