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David Lillard

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David Lillard
Treasurer of Tennessee
Incumbent
Assumed office
January 15, 2009
GovernorPhil Bredesen
Bill Haslam
Bill Lee
Preceded byDale Sims
Personal details
Born (1953-11-23) November 23, 1953 (age 70)
Fort Rucker, Alabama, U.S.
Political partyRepublican
EducationUniversity of Memphis (BA, JD)
University of Florida (LLM)

David H. Lillard Jr. (born c. 1953) is an American lawyer, politician and government official. A Republican, he serves as the state treasurer for the state of Tennessee.

Early life

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David Lillard was born circa 1953 in Fort Rucker, Alabama.[1][2] He graduated from the University of Memphis, where he earned a BA and a JD.[1] He earned a master of laws in taxation from the University of Florida in 1983.[1]

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Lillard was a lawyer for almost three decades. According to the National Association of State Auditors, Comptrollers, and Treasurers, he practiced "tax, securities, municipal finance and health regulatory law."[3]

Political career

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County Commissioner

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A Republican,[4][5] Lillard was a Shelby County Commissioner until 2009,[5] was Chairman of the Shelby County Board of Commissioners and also served as president of the Tennessee County Commissioners Association.[2]

State Treasurer

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In 2009, after Republicans gained control of the Tennessee General Assembly (the state legislature), the legislature elected Lillard as the Tennessee State Treasurer.[6] He was subsequently re-elected to several two-year terms,[6] most recently in January 2021[7] and January 2023.[6]

As State Treasurer, Lillard oversees the Tennessee Department of Treasury, which manages the Tennessee Consolidated Retirement System (TCRS), the state's pension fund.[8] The Tennessee Treasury also administers Tennessee's 529 plan for college savings (TNStars); the Tennessee Financial Literacy Commission; ABLE TN; the state Unclaimed Property Division, and the Criminal Injuries Compensation Fund.[9]

In 2014, Lillard worked with the General Assembly on legislation that required newly state employees to contribute to their pensions, creating a "hybrid plan" that reduced costs; the legislation created a 401(k) plan and raised the retirement age to receive full benefits from 60 to 65.[8]

Lillard supported legislation in 2014 that required local governments in Tennessee that do not participate in TCRS to annually fund 100% of the "actuarially determined annual required contribution." The Tennessee General Assembly unanimously passed the legislation in April 2014. Local governments that participated in TCRS were already required to make 100% contributions.[10]

Lillard also served as President of the National Executive Committee of the National Association of State Auditors, Comptrollers and Treasurers (NASACT) through 2017.[11] He is currently a member of the National Association of State Treasurers' Governmental Accounting Standards Advisory Council (GASAC).[12]

Personal life

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Lillard has a wife, Patricia Newton, and three children.[13] He resides in Shelby County,[2] and he is a member of the United Methodist Church.[1]

References

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  1. ^ a b c d "Company Overview of State Of Tennessee: David H. Lillard Jr". Bloomberg. Retrieved October 11, 2017.
  2. ^ a b c "History of Tennessee State Treasurers (1836-Present): David H. Lillard, Jr". Tennessee Department of Treasury. Archived from the original on October 11, 2017. Retrieved October 11, 2017.
  3. ^ "NASACT Executive Committee". National Association of State Auditors, Comptrollers, and Treasurers. Retrieved October 13, 2017.
  4. ^ "David H. Lillard, Jr. (R)". Tennessee Department of Treasury. Retrieved October 11, 2017.
  5. ^ a b "Shelby Co. Commission replaces Republican with Democrat". WMC-TV. February 24, 2009. Retrieved October 13, 2017.
  6. ^ a b c Tennessee lawmakers reelect state comptroller, treasurer, Associated Press (January 11, 2023).
  7. ^ "Tennessee lawmakers elect 3 statewide officials". Associated Press. Nashville. January 13, 2021. Retrieved January 13, 2021.
  8. ^ a b Jamie McGee (September 6, 2016). "Despite weak returns, Tennessee pension still strong, officials say". The Tennessean.
  9. ^ "Tennessee State Treasurer David Lillard Reelected". National Association of State Treasurers. January 11, 2017. Archived from the original on October 28, 2018. Retrieved October 13, 2017.
  10. ^ Kozlowski, Rob (April 22, 2014). "Tennessee passes bill requiring some local governments to make full pension contributions". Pensions & Investments.
  11. ^ "NASACT 2017 Breaks Attendance Records" (Press release). National Association of State Auditors, Comptrollers and Treasurers. Retrieved July 24, 2020.
  12. ^ "GASAC - Governmental Accounting Standards Advisory Council". Gasb.org. Retrieved October 13, 2017.
  13. ^ "DAVID H. LILLARD JR" (PDF). Council of State Governments. Retrieved October 11, 2017.
Political offices
Preceded by Treasurer of Tennessee
2009–present 		Incumbent
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