Pensions and Retirement Benefits - As enacted, enacts the "Fairness in Benefits Act." - Amends TCA Title 8, Chapter 27; Title 8, Chapter 34; Title 8, Chapter 35; Title 8, Chapter 36 and Title 8, Chapter 37.

HB 550, the "Fairness in Benefits Act," requires public employers participating in Tennessee's state retirement system to allow private retirement providers to share information about their alternative retirement plans (like 401(k) or 403(b) plans) with employees during non-work hours on employer premises. It specifically mandates that these private plans must meet IRS standards for qualified retirement plans. The law directly affects public employees in Tennessee's state retirement system and their employers, enabling them to access details about private retirement options alongside their current benefits. Signed into law on May 2, 2025, it updates Tennessee Code Annotated, Title 8, Chapter 36, Part 1.