KY HB 597
died on adjournmentAN ACT relating to retirement income savings plans for private sector employees.
Kentucky · 2026 Regular Session · lower
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Quick answers
Did KY HB 597 pass?
No. KY HB 597 died when the 2026 Regular Session adjourned without final action on it. Bills that die this way are sometimes reintroduced in a later session. Latest recorded action (2026-02-17): to Small Business & Information Technology (H)
What is KY HB 597 about?
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.
Who sponsors KY HB 597?
D. Gordon is the primary sponsor of KY HB 597.
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
- 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
Newest first
2026-02-17
to Small Business & Information Technology (H)
referral-committee
2026-02-09
to Committee on Committees (H)
referral-committee
2026-02-09
introduced in House
introduction
Versions
- IntroducedCompare
Documents
Votes
Not provided by source.
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-08-21T21:05:44.493618Z
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