IndianaState administered retirement program.
What it does
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.
More detail
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.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 17Senator Randolph added as coauthorLatest
- Jan 29Senator Niezgodski added as coauthor
- Jan 27Senators Leising and Glick added as coauthors
- Jan 21Senator Ford J.D. added as coauthor
- Jan 16Coauthored by Senators Qaddoura, Hunley, Jackson L, Pol
- Jan 16First reading: referred to Committee on AppropriationsMinor
- Jan 16Authored by Senators Becker, Walker G, AltingIntroduced