SB 2885

An act to create the mississippi work and save program, which is a retirement savings program sponsored by the state for certain employers who do not already offer a retirement plan that will allow those employers to offer eligible employees the voluntary choice to contribute to an individual retirement account (ira) through a payroll deduction; To provide the powers, authority and duties of the state treasurer; To prescribe the requirements for the program; To provide that the ira to which contributions are made will be a roth ira and the standard package will be a roth ira with a target date fund investment and a specified contribution percentage; To provide certain protection from liability for employers IN the program and for the state; To provide for the confidentiality of participant and account information; To create the mississippi work and save administrative fund as a special fund IN the state treasury; To provide that monies IN the fund shall be expended upon appropriation of the legislature, for the purposes authorized IN this act; And for related purposes.