SB 5740 - DIGEST |
Establishes the secure choice retirement savings program act. |
Creates the secure choice retirement savings program to facilitate voluntary retirement savings by workers by creating an IRA savings program with automatic enrollment and requiring employers that do not offer a retirement plan to make the program available to their employees. |
Creates the secure choice retirement savings trust which is an IRA retirement trust or annuity contract. |
Removes requirements of the state small business retirement marketplace regarding the myRA retirement program administered by the United States department of the treasury. |
Creates the secure choice retirement savings administrative fund. |