State administered retirement program.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
Establishes a board to design, establish, and operate a state administered retirement program (program) that automatically enrolls specified private sector employees. Requires program compliance by certain employers that have not, in the previous two calendar years, offered a qualified retirement plan to employees. Specifies the powers and duties of the board. Specifies program requirements, including default contribution levels and program fees. Requires the board to contract with investment managers, private financial institutions, or other service providers to invest money and administer the program. Limits the liability of particular parties associated with the program. Specifies board requirements for disclosure, audits, and reports. Requires the board to adopt certain rules. Makes an appropriation.
Bill text
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Document of record
- Version
- Introduced Senate Bill
- Published
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Sponsors
Official sponsors from legislative records.
7 on record
Primary sponsors
Cosponsors
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