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  • About the Treasurer
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Treasurer Lillard

David H. Lillard, Jr. (R)

David H. Lillard, Jr. has served as Tennessee State Treasurer since his election by the Tennessee General Assembly in January 2009. A lifelong Republican, Treasurer Lillard has extensive professional experience in public and private corporate finance transactions, municipal finance, governmental budgeting and related fields.

Under his leadership, the Tennessee Treasury Department internally manages investments in domestic equities, fixed income, private equity, real estate and strategic lending valued at approximately $50 billion throughout the year. Additionally, Treasury directs multiple state programs with a staff of approximately 260 employees and a department budget of $33 million. The Treasury Investments Division has consistently achieved investment returns consistent with its peers while maintaining an investment expense and administration expense that is among the lowest in the southeast.

Treasurer Lillard has worked to improve the financial standing of the state and the financial quality of life for Tennessee’s citizens. His achievements include restructuring the state pension fund to an adjustable hybrid plan, one of the most innovative reforms in the nation, to provide a cost effective, sufficient and sustainable retirement benefit. The state’s defined benefit pension plan, the Tennessee Consolidated Retirement System (TCRS), serves over 350,000 Tennesseans including all state employees, many higher education employees K-12 public school teachers and many local governmental entities. Under his leadership, Tennessee became the first state to enact a requirement that all defined benefit public pension plans offered by public entities must annually fund 100% of the Actuarially Determined Contribution and must adhere to certain recognized standards in plan management.

Further innovations established during his tenure include the TNStars® College Savings 529 Program and the Tennessee Financial Literacy Commission. TNStars® is a low-cost investment program recognized for offering economical and high-performing investment options for Tennessee families to save for the cost of post-secondary education. The Tennessee Financial Literacy Commission trains Tennessee elementary and middle school teachers to integrate basic financial concepts into the existing curriculum and delivers other programs to raise the financial aptitude of Tennesseans.

Treasurer Lillard is currently serving as First Vice President  of the National Executive Committee of the National Association of State Auditors, Comptrollers and Treasurers (NASACT). In 2012, he was a recipient of the NASACT President’s Award recognizing outstanding service. In 2015, he served as the President of the National Association of State Treasurers (NAST). NAST is the premier national organization that provides advocacy and support for state treasurers and treasury staff throughout the United States and its territories. He is currently representing NAST on the Governmental Accounting Standards Advisory Council (GASAC).  He has also served as Chair of the State Debt Management Network and Chair of Banking/Cash Management Committee.

 

Revised March 2016.

Learn more about the History of Tennessee State Treasurers

Boards and Commissions

Tennessee Code Annotated Section

Advisory Council on Workers’ Compensation

50-6-121

Baccalaureate Education System Trust Board

49-7-804

Collateral Pool Board

9-4-506

Board of Claims

9-8-101

State Board of Equalization

4-3-5101

Tennessee Consolidated Retirement System Board of Trustees

8-34-302

Chairs of Excellence Endowment Trust

49-7-501

Commission on Crime Victims Assistance

Ex. Order 10 of 2003

Commission to Purchase Surplus Federal Property

12-1-103

Council on Pensions & Insurance

3-9-101

State Funding Board

9-9-101

Public Records Commission

10-7-302

Sick Leave Bank Board

8-50-903

State Building Commission

4-15-101

State Capitol Commission

4-8-301

State Insurance Committee

8-27-101

Local Government Insurance Committee

8-27-207

Local Education Insurance Committee

8-27-301

Tennessee State School Bond Authority

49-3-1204

State Trust of Tennessee

9-4-806

Tennessee Higher Education Commission

49-7-204

Tennessee Housing Development Agency

13-23-106

Tennessee Local Development Authority

4-31-103

Tennessee Sports Hall of Fame

4-3-5403

Tennessee Student Assistance Corporation

49-4-202

Tuition Guaranty Fund Board

49-7-2018

Workers Compensation Insurance Fund Board

50-6-604

Catastrophic Injuries Fund Commission

29-20-408

Industrial Finance Corporation Board

4-17-405

Advisory Board to Establish Compensation for the Use of the Right-of-Way for underground Fiber Optic Cable Facilities

54-16-112

Appeals from Gift Tax Appraisals Board

67-8-116

   

Administration

Tennessee Code Annotated Section

Baccalaureate Education System Trust

49-7-801, et seq.

Board of Claims

9-8-101, et seq.

Chairs of Excellence Trust

49-7-501—49-7-502

Collateral Pool

9-4-501—9-4-523

Collateral Program

9-4-101—9-4-105

Council on Pensions and Insurance

3-9-101

Criminal Injury Compensation Fund

29-13-101, et seq.

Deferred Compensation

8-25-101, et seq.

Escheat

31-6-101, et seq.

Flexible Benefits Plan

8-25-501

Investment Advisory Council

8-37-108

Investment of State Idle Cash Funds

9-4-602

Local Government Investment Pool

9-4-704

Old Age and Survivors Insurance Agency

8-38-101, et seq.

Pooled Investment Fund

9-4-704

Receipt and Disbursement of Public Funds

8-5-106—8-5-111; 9-4-301, et seq.

Small and Minority-Owned Business Assistance Program

65-5-213

State Cash Management

9-4-106—9-4-108; 9-4-401—9-4-409

State Treasurer’s Office

8-5-101, et seq.

State Trust of Tennessee

9-4-801, et seq.

Tennessee Claims Commission

9-8-301, et seq.

Tennessee Consolidated Retirement System and Miscellaneous Systems

Title 8, Chptrs. 34, 35, 36, 37 & 39

Unclaimed Property

66-29-101, et seq.

Victims of Drunk Drivers Compensation Fund

40-24-107