Yes it does, in actual fact you can tow more. The 5500 lbs just means that the brakes on your Jimmy can not handle any more then that to safely stop it in the given amount of distance allowed at a given speed.
Good luck and if you are planing to tow, get a transmission cooler and replace your boost valve in your transmission to 0.049" and swap out your servo with corvette servo for better and firmer shifts through out your transmission's life.