2023
Regular Session
Mississippi Work and Save Program; create.
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 ESTABLISH THE MISSISSIPPI WORK AND SAVE BOARD IN THE OFFICE OF THE STATE TREASURER TO ADMINISTER THE PROGRAM; TO PROVIDE FOR THE APPOINTMENT OF THE MEMBERS OF THE BOARD; TO PROVIDE THE POWERS, AUTHORITY AND DUTIES OF THE BOARD; 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 BY THE BOARD, UPON APPROPRIATION OF THE LEGISLATURE, FOR THE PURPOSES AUTHORIZED IN THIS ACT; AND FOR RELATED PURPOSES.
01/31/23 at 20:38
H
B
701
House Bill 701
HB 701
H
Dead
General Bill/Constitutional Amendment
No
Three/Fifths
Passage
Appropriations
T
../../House_cmtes/AP.xml
Steverson
../../House_authors/Steverson.xml
1
01/16 (H) Referred To Appropriations
2
01/31 (H) Died In Committee
../../../../documents/2023/pdf/HB/0700-0799/HB0701IN.pdf
../../../../documents/2023/html/HB/0700-0799/HB0701IN.htm
../../../../documents/2023/pdf/HB/0700-0799/HB0701IN.pdf
../../../../documents/2023/html/HB/0700-0799/HB0701IN.htm
N
../../../../documents/2023/pdf/fiscalnotes/HB0701.pdf