KY HB 597
died on adjournmentAN ACT relating to retirement income savings plans for private sector employees.
Kentucky · 2026 Regular Session · lower
Description
Create new sections of KRS Chapter 41 to establish the Commonwealth Retirement Savings Plan as a voluntary payroll-deduction Roth IRA savings program for employees of private employers with fewer than 50 employees; define terms; create a governing board of trustees and specify responsibilities of the board in plan design and oversight; require the board to contract with a third-party administrator for plan administration; establish that the plan shall be implemented and enrollment of employees shall begin on July 1, 2028, if adequate funds to administer the plan are available; amend KRS 154.12-330 to authorize the Kentucky Economic Development Finance Authority to lend funds to help implement the plan; require the State Treasurer, on or before July 1, 2027, to provide the Legislative Research Commission with a written update on the plan's implementation status.
- Introduced
- 2026-02-09
- Status date
- —
- Latest action
- 2026-02-17 — to Small Business & Information Technology (H)
- Bill type
- bill
- Last updated
- —
Subjects
- Administrative Regulations And Proceedings
- Banks And Financial Institutions
- Boards And Commissions
- Business Entities And Organizations
- Federal Laws And Regulations
- Fiduciaries
- Financial Responsibility
- Funds
- Investments
- Labor And Industry
- Personnel And Employment
- Reports Mandated
- Retirement And Pensions
- Treasurer
- Wages And Hours
- Workforce
Sponsors
- D. Gordonprimary
Committees
Not provided by source.
Action timeline
2026-02-09
introduced in House
introduction
2026-02-09
to Committee on Committees (H)
referral-committee
2026-02-17
to Small Business & Information Technology (H)
referral-committee
Versions
- IntroducedCompare
Documents
Votes
Not provided by source.
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:22:24.357326Z
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