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Media Contact: Shelli King, Director of Communications

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Thomas Kim named Deputy CIO of Treasury Investments Division

The Tennessee Department of Treasury has named Thomas Kim as its new Deputy Chief Investment Officer.

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NASHVILLE - The Tennessee Department of Treasury has named Thomas Kim as its new Deputy Chief Investment Officer.

Mr. Kim, who has served as Director of Fixed Income since 2015, will now assist Chief Investment Officer Michael Brakebill in leading the Treasury Investments Division, which is responsible for internally managing over $82.2 billion in state assets, including the Tennessee Consolidated Retirement System (TCRS) valued at over $53.4 billion.

“I am honored to be able to serve Tennesseans in this capacity,” Mr. Kim said. “I want to thank CIO Brakebill and Treasurer Lillard for giving me this opportunity, and I look forward to assisting the investment team any way I can.”

Mr. Kim is a Chartered Financial Analyst (CFA) responsible for managing and supervising the fixed income division of the TCRS. He was hired at Treasury in 2010 as a senior portfolio manager to manage the corporate bond portfolio at TCRS. Mr. Kim has nearly 25 years of investment experience in fixed income and equity.

“Thomas Kim has proven to be an excellent leader and investor as our Director of Fixed Income,” Mr. Brakebill said. “I frequently look to him for advice. We have worked closely as investors and managers for a number of years, and I look forward to his contributions in this expanded role.”

Mr. Kim came to Treasury with nearly 15 years of private sector experience in asset management for fixed income and equities. He began his career at Legg Mason as an associate equity analyst. After leaving Legg Mason, he oversaw a credit bond portfolio for ASB Capital Management and then Calvert Group in Washington, D.C. He then managed a credit research department to support mutual funds at MTB Investment Advisors (now Wilmington Trust). He holds an MBA from the University of Maryland-College Park and earned a BA from Towson University.

"Thomas Kim has repeatedly demonstrated his ability as a disciplined, insightful investor in these times of volatile markets and, as Deputy CIO, will be the perfect addition to the leadership of the excellent investment team our CIO Michael Brakebill has assembled," said Tennessee State Treasurer David H. Lillard, Jr.

 

About the Treasury Investments Division

The Tennessee Department of Treasury is responsible for many of the financial operations of state government, including managing and overseeing more than $82.2 billion in assets through its various investment programs, the largest of which is the Tennessee Consolidated Retirement System valued at $53.4 billion. Treasury’s Investment Division is comprised of 36 professionals with extensive education, professional training and designations to manage its investments. The department achieves investment returns consistent with its peers while maintaining an investment expense among the lowest in the southeast. For more information on the Investments Division, visit treasury.tn.gov/Investments.

 

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Tennessee Treasury Observes National Crime Victims’ Rights Week, April 18-24

Criminal Injuries Compensation Program Provides Last Resort Funds to Help Restore TN Victims

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NASHVILLE - The Tennessee Department of Treasury is joining organizations across the country April 18 - 24 in recognizing National Crime Victims’ Rights Week to raise awareness of victims’ rights, inspire the community, and address unmet needs.

In observation of the week, State Treasurer David H. Lillard, Jr., wants to remind the public of a fund designed to help innocent victims of violent crimes in Tennessee and restore hope. The Criminal Injuries Compensation (CIC) Program, a program of the Tennessee Department of Treasury, serves victims who have no other means of helping to defray the costs of eligible expenses. The fund covers expenses caused by personal injury, such as medical bills, lost wages, loss of support to financial dependents, mental health counseling, and more.

Money in the fund can even help with the expenses incurred while cleaning the scene of the crime, if it occurred in a victim’s home. If the crime results in the death of the victim, the fund can help those remaining dependents with some financial support and can help cover funeral expenses. 

The theme for the 2021 National Crime Victims’ Rights Week, “Support Victims. Build Trust. Engage Communities” celebrates the contributions that we all can make toward building trust in our community’s capacity to support the healing journeys of crime victims. We are honoring both the individual victims in our community and the groups engaged in building networks of understanding and support.

About 1.2 million people were victims of violent crime in 2019, excluding simple assault, a significant decrease from the year before, according to the most recent National Crime Victimization Survey from the Bureau of Justice Statistics. Now is the time to redouble our efforts so that victimization continues to decline and fewer and fewer Tennesseans become victims of crime.

Since its inception in 1982, the Criminal Injuries Compensation Fund has paid out more than $325 million in claims to Tennessee victims and their families when no other financial means were available. The money in the fund comes from fines, penalties, and fees paid by criminals to state and federal courts.

“This is a fund of last resort,” Treasurer Lillard said. “One would hope to never be a victim, but we all know bad things do happen. When you have no other means, please know there is still help with this program.”

Learn more about the CIC program at treasury.tn.gov/injury. Follow the Tennessee Treasury on Facebook and Twitter to get involved in the National Crime Victims’ Rights Week conversation.

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April is Financial Literacy month

It also marks 12 months of extraordinary challenges for many individuals and families in Tennessee.

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NASHVILLE - April is Financial Literacy month. It also marks 12 months of extraordinary challenges for many individuals and families in Tennessee. While the COVID-19 pandemic has threatened public health, it also presented widespread economic hardship and instability for so many. With Tennesseans facing historic disruptions to the economy and employment, financial education becomes even more essential to ensuring a brighter future for our youngest citizens.

As your State Treasurer, I have worked with our General Assembly, and dedicated businesses and individuals who share our passion, to expand access to high quality financial literacy tools through the Tennessee Financial Literacy Commission. Our goal is to ensure Tennesseans in every county have access to age-appropriate financial education tools, beginning as early as kindergarten. The Commission carries out this goal primarily by providing educators with the tools, training and support needed to incorporate financial literacy concepts into their classrooms. 

Additionally, the Commission shares free, web-based resources on its website for children and adults to access any time. With the help of a parent or guardian, children can develop smart money skills from home through the Vault – Understanding Money program, an online program where students in grades 3-8 can play games designed to introduce them to critical financial literacy lessons on topics such as income and careers, planning for the future, credit and borrowing, spending and saving, and more!

Tennessee adults have 24/7 online access to the Financial Empowerment Resource Library. This free online financial education tool contains interactive modules covering financial topics, including budgeting, building emergency savings, credit scores and reports, homeownership, auto loans, checking accounts, and retirement planning.

This month, as people around the nation celebrate Financial Literacy, I encourage Tennesseans to take a step toward improving your financial security by utilizing these resources at TNFLC.org, or Treasury.tn.gov > Financial Education.

David H. Lillard, Jr.
Tennessee State Treasurer

Tennessee Consolidated Retirement System—Board of Trustees - Investment Committee

The Investment Committee of the Tennessee Consolidated Retirement System (TCRS) Board of Trustees will meet at 2 p.m. CST Monday, April 26, 2021, via Webex.

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The Investment Committee of the Tennessee Consolidated Retirement System (TCRS) will meet at 2:00 p.m. CT Monday, April 26, 2021, via electronic communications.

Join the meeting by Webex

Meeting number (access code): 185 563 7152
Meeting password: Pp2vM5Qisc3

Tennessee Consolidated Retirement System — Board of Trustees

A meeting of the Tennessee Consolidated Retirement System Board of Trustees has been scheduled for Friday, March 26, 2021 from 10:00 A.M. to 12:00 P.M. CT via WebEx.

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Meeting Date and Time
Friday, March 26, 2021 at 10:00 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number:  178 729 6818
Password:  McHfJNmU258
OR
Join by phone:

Dial:  1-415-655-0003
Access code:  178 729 6818

Tennessee Consolidated Retirement System—Board of Trustees - Administrative Committee

The Tennessee Consolidated Retirement System (TCRS) Board of Trustees Administrative Committee will meet from 9 to 10 a.m. CT Friday, March 26, 2021, via WebEx.

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Meeting Date and Time
Friday, March 26, 2021 at 9 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number:  185 863 3345
Password:  3apATCK4aY4
OR
Join by phone:

Dial:  1-415-655-0003
Access Code:  185 863 3345

Tennessee Consolidated Retirement System named in Top 3 best-funded State Pensions by Pew Charitable Trusts

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The Tennessee Consolidated Retirement System (TCRS) has once again been recognized nationally as one of the best-funded state pension programs in the country. In a recent report, Pew Charitable Trusts, a nonprofit focused on non-partisan government research, listed Tennessee, along with New York and South Dakota, as best prepared to fulfill pension promises made to public employees.

Tennessee Consolidated Retirement System’s FY20 investments out-earn pension peers, despite challenging economy

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The Tennessee Consolidated Retirement System (TCRS) finished the 2020 fiscal year with 4.94% investment return. The portfolio earned nearly 10% in the last quarter of fiscal year 2020, rebounding from a low in March and exceeding earnings of peer state pension systems, despite an ongoing economic downturn due to the COVID-19 pandemic.

Tennessee Board of Claims

The Board of Claims will be meeting at 9:30 A.M. (Central Time) on October 13, 2020 via WebEx.

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Meeting Date and Time

Tuesday, October 13, 2020 at 9:30 A.M. CT
In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number:  171 963 4711
Password:  MJnE49pJ9FM
OR
Join by phone:

Dial:  1-415-655-0003 US TOLL
Access code:  171 963 4711

Tennessee Board of Claims - Staff Briefing

The Board of Claims Staff will be meeting at 3:00 P.M. (Central Time) on October 8, 2020 via WebEx.

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Meeting Date abd Time

Thursday, October 8, 2020 at 3:00 P.M. CT
In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number:  171 676 1054
Password:  BMpzrpZm288
OR
Join by phone:

Dial:  1-415-655-0003 US TOLL
Access code:  171 676 1054

Trustees for the Chairs of Excellence Trust and the College Savings Trust Fund—Audit Committee

A meeting of the joint Audit Committee for the Trustees for the Chairs of Excellence Trust and the College Savings Trust Fund has been scheduled for Thursday, October 8, 2020.

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Meeting Date and Time
Thursday, October 8 2020 at 9:45 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WeEx
Meeting number: 171 196 7391
Password: xpDmPmEH635
OR
Join by phone

Dial: 1-415-655-0003
Access Code: 171 196 7391

Learn more about the Chairs of Excellence Trust

Learn more about the College Savings Trust Fund Board

Tennessee Consolidated Retirement System - Board of Trustees - Investment Committee

A meeting of the Tennessee Consolidated Retirement System Board of Trustees Investment Committee has been scheduled for Thursday, September 24, 2020 via WebEx.

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Meeting Date and Time
Thursday, September 24, 2020 at 10 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number (Access code): 171 305 0229
Meeting password: Gm33Umw8jjU

OR

Join by phone:
Dial:
1-415-655-0003
Access code: 171 305 0229

Tennessee Consolidated Retirement System—Board of Trustees - Administrative Committee

A meeting of the Tennessee Consolidated Retirement System Board of Trustees Administrative Committee has been scheduled for Friday, September 25, 2020 via WebEx.

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Meeting Date and Time
Friday, September 25, 2020 at 9 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number: 171 036 8436
Password:  mgHJP3jrr29
OR
Join by phone:
Dial: 1-415-655-0003
Access Code:  171 036 8436

Tennessee Consolidated Retirement System - Board of Trustees - Audit Committee

A meeting of the Tennessee Consolidated Retirement System Board of Trustees Audit Committee has been scheduled for Friday, September 25, 2020 via WebEx.

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Meeting Date and Time
Friday, September 25, 2020 at 8 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number: 171 720 0711
Password:  F5dpSFbbd74
OR
Join by phone:
Dial: 1-415-655-0003
Access Code:  171 720 0711

Tennessee Consolidated Retirement System - Board of Trustees - Investment Committee

The Tennessee Consolidated Retirement System Board of Trustees Investment Committee will be meeting at 9:30 A.M. (CT) on Thursday, June 25, 2020 via WebEx.

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Meeting Date and Time
Thursday, June 25, 2020 at 9:30 A.M. CT

In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number: 161 925 1328
Password: XSzb6PNHS32
OR
Join by phone:
Dial: 1-415-655-0003 US TOLL
Access Code: 161 925 1328

College Savings Trust Fund Board of Trustees

The College Savings Trust Fund Program will convene on July 15, 2020 at 10:00 a.m. CT by utilizing WebEx.

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Meeting Date and Time

Wednesday, July 15, 2020 at 10:00 A.M. CT
In the interest of public safety and welfare, this meeting will be held by electronic means only and will not occur in a physical location.

Attend this meeting via WebEx

Meeting number: 161 914 2273
Password: ptKQYdMR282
OR
Join by phone:

Dial: 415-655-0003
Access code: 161 914 2273