VA SB 149
enactedState-facilitated IRA savings program; various changes to the program.
Virginia · 2026 Regular Session · upper
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Quick answers
Did VA SB 149 pass?
Yes. VA SB 149 has been enacted into law. Latest recorded action (2026-04-06): Acts of Assembly Chapter text (CHAP0085)
What is VA SB 149 about?
State-facilitated IRA savings program. Makes various changes to the state-facilitated IRA savings program administered by the Commonwealth Savers Plan. For purposes of defining an eligible employer, the bill (i) reduces the minimum number of eligible employees an organization must have in its employ from 25 to five for the period ending December 31 of the preceding calendar year prior to the program's open enrollment period for that calendar year and (ii) clarifies that such term does not include employers offering and sponsoring a qualified retirement plan, including 401(k) plans. The bill also removes the requirement that an eligible employee, for purposes of the program, works at least 30 hours a week and adds the requirement that participating individuals enrolling in the program independent of an employment relationship with an eligible employer be at least 18 years of age. The bill also expands the powers and duties of the governing board of the Commonwealth Savers Plan to include (a) procedures for reenrollment of participating employees and participating individuals; (b) allowing program participants to invest in a lifetime income option; (c) establishing the resources, tools, and incentives to promote greater financial education and literacy; (d) procedures for receiving and crediting federal matching contributions to an IRA or qualified retirement savings account; and (e) exploring and establishing incentives that encourage participation by eligible employers and eligible employees, including initiatives that incentivize compliance or that defray any costs incurred by an eligible employer to facilitate participation.The bill also requires eligible employers that withhold a program contribution from a participating employee's wages to remit such contribution not later than 10 business days following the date upon which such withholding was made and notes that eligible employers who fail to submit contributions to the program may be in violation of law and incur penalties. This bill is identical to HB 176.
Who sponsors VA SB 149?
Jeremy S. McPike is the primary sponsor of VA SB 149.
Description
State-facilitated IRA savings program. Makes various changes to the state-facilitated IRA savings program administered by the Commonwealth Savers Plan. For purposes of defining an eligible employer, the bill (i) reduces the minimum number of eligible employees an organization must have in its employ from 25 to five for the period ending December 31 of the preceding calendar year prior to the program's open enrollment period for that calendar year and (ii) clarifies that such term does not include employers offering and sponsoring a qualified retirement plan, including 401(k) plans. The bill also removes the requirement that an eligible employee, for purposes of the program, works at least 30 hours a week and adds the requirement that participating individuals enrolling in the program independent of an employment relationship with an eligible employer be at least 18 years of age. The bill also expands the powers and duties of the governing board of the Commonwealth Savers Plan to include (a) procedures for reenrollment of participating employees and participating individuals; (b) allowing program participants to invest in a lifetime income option; (c) establishing the resources, tools, and incentives to promote greater financial education and literacy; (d) procedures for receiving and crediting federal matching contributions to an IRA or qualified retirement savings account; and (e) exploring and establishing incentives that encourage participation by eligible employers and eligible employees, including initiatives that incentivize compliance or that defray any costs incurred by an eligible employer to facilitate participation.The bill also requires eligible employers that withhold a program contribution from a participating employee's wages to remit such contribution not later than 10 business days following the date upon which such withholding was made and notes that eligible employers who fail to submit contributions to the program may be in violation of law and incur penalties. This bill is identical to HB 176.
- Introduced
- 2026-01-07
- Latest action
- 2026-04-06 — Acts of Assembly Chapter text (CHAP0085)
- Bill type
- bill
- Last updated
- —
Sponsors
- Jeremy S. McPikeprimary
Committees
Not provided by source.
Action timeline
Newest first
2026-04-06
Acts of Assembly Chapter text (CHAP0085)
2026-04-06
Approved by Governor-Chapter 85 (effective 7/1/2026)
executive-signature
2026-03-10
Governor's Action Deadline 11:59 p.m., April 13, 2026
executive-receipt
2026-03-10
Enrolled Bill communicated to Governor on March 10, 2026
enrolled,executive-receipt
2026-02-27
Signed by President
passage
2026-02-27
Signed by Speaker
passage
2026-02-27
Fiscal Impact Statement from Department of Planning and Budget (SB149)
2026-02-27
Bill text as passed Senate and House (SB149ER)
passage
2026-02-27
Enrolled
enrolled
2026-02-25
Passed House (97-Y 0-N 0-A)
passage
2026-02-25
Read third time
reading-3
2026-02-24
Read second time
reading-2
2026-02-20
Reported from Appropriations (22-Y 0-N)
committee-passage
2026-02-18
Assigned HAPP sub: General Government and Capital Outlay
referral-committee
2026-02-05
Referred to Committee on Appropriations
referral-committee
2026-02-05
Read first time
reading-1
2026-02-05
Placed on Calendar
2026-02-02
Read third time and passed Senate (40-Y 0-N 0-A)
passage,reading-3
2026-01-30
Engrossed by Senate (Voice Vote)
2026-01-30
Read second time
reading-2
2026-01-29
Passed by for the day
2026-01-29
Passed by for the day (Voice Vote)
2026-01-29
Constitutional reading dispensed (on 1st reading) (40-Y 0-N 0-A)
2026-01-29
Rules suspended
2026-01-28
Reported from Finance and Appropriations (13-Y 0-N)
committee-passage
2026-01-16
Fiscal Impact Statement from Department of Planning and Budget (SB149)
2026-01-07
Referred to Committee on Finance and Appropriations
referral-committee
2026-01-07
Prefiled and ordered printed; Offered 01-14-2026 26101585D
filing,introduction
Versions
Documents
Votes
Reported from Finance and Appropriations
2026-01-28 · pass · 13-0
Member-level votes (15)
- L. Louise Lucas: yes
- R. Creigh Deeds: yes
- Mamie E. Locke: yes
- David W. Marsden: not voting
- Adam P. Ebbin: yes
- Ryan T. McDougle: yes
- Mark D. Obenshain: yes
- Richard H. Stuart: yes
- Bryce E. Reeves: not voting
- Barbara A. Favola: yes
- Scott A. Surovell: yes
- Jeremy S. McPike: yes
- Jennifer B. Boysko: yes
- Todd E. Pillion: yes
- Aaron R. Rouse: yes
Constitutional reading dispensed R
2026-01-29 · pass · 40-0
Member-level votes (40)
- Lashrecse D. Aird: yes
- Lamont Bagby: yes
- Jennifer B. Boysko: yes
- Jennifer D. Carroll Foy: yes
- Luther Cifers, III: yes
- Christie New Craig: yes
- R. Creigh Deeds: yes
- Bill DeSteph: yes
- J.D. "Danny" Diggs: yes
- Tara A. Durant: yes
- Adam P. Ebbin: yes
- Barbara A. Favola: yes
- Timmy French: yes
- T. Travis Hackworth: yes
- Christopher T. Head: yes
- Michael J. Jones: yes
- Emily M. Jordan: yes
- Mamie E. Locke: yes
- L. Louise Lucas: yes
- David W. Marsden: yes
- Ryan T. McDougle: yes
- Jeremy S. McPike: yes
- Tammy Brankley Mulchi: yes
- Mark D. Obenshain: yes
- Mark J. Peake: yes
- Stella G. Pekarsky: yes
- Russet Perry: yes
- Todd E. Pillion: yes
- Bryce E. Reeves: yes
- Danica A. Roem: yes
- Aaron R. Rouse: yes
- Saddam Azlan Salim: yes
- Kannan Srinivasan: yes
- William M. Stanley, Jr.: yes
- Richard H. Stuart: yes
- Glen H. Sturtevant, Jr.: yes
- David R. Suetterlein: yes
- Scott A. Surovell: yes
- Schuyler T. VanValkenburg: yes
- Angelia Williams Graves: yes
Passage R
2026-02-02 · pass · 40-0
Member-level votes (40)
- Lashrecse D. Aird: yes
- Lamont Bagby: yes
- Jennifer B. Boysko: yes
- Jennifer D. Carroll Foy: yes
- Luther Cifers, III: yes
- Christie New Craig: yes
- R. Creigh Deeds: yes
- Bill DeSteph: yes
- J.D. "Danny" Diggs: yes
- Tara A. Durant: yes
- Adam P. Ebbin: yes
- Barbara A. Favola: yes
- Timmy French: yes
- T. Travis Hackworth: yes
- Christopher T. Head: yes
- Michael J. Jones: yes
- Emily M. Jordan: yes
- Mamie E. Locke: yes
- L. Louise Lucas: yes
- David W. Marsden: yes
- Ryan T. McDougle: yes
- Jeremy S. McPike: yes
- Tammy Brankley Mulchi: yes
- Mark D. Obenshain: yes
- Mark J. Peake: yes
- Stella G. Pekarsky: yes
- Russet Perry: yes
- Todd E. Pillion: yes
- Bryce E. Reeves: yes
- Danica A. Roem: yes
- Aaron R. Rouse: yes
- Saddam Azlan Salim: yes
- Kannan Srinivasan: yes
- William M. Stanley, Jr.: yes
- Richard H. Stuart: yes
- Glen H. Sturtevant, Jr.: yes
- David R. Suetterlein: yes
- Scott A. Surovell: yes
- Schuyler T. VanValkenburg: yes
- Angelia Williams Graves: yes
Reported from Appropriations
2026-02-20 · pass · 22-0
Member-level votes (22)
- Luke E. Torian: yes
- Betsy B. Carr: yes
- Delores L. McQuinn: yes
- Paul E. Krizek: yes
- C.E. Cliff Hayes, Jr.: yes
- David A. Reid: yes
- Rodney T. Willett: yes
- Briana D. Sewell: yes
- Alex Q. Askew: yes
- Charniele L. Herring: yes
- Marcia S. "Cia" Price: yes
- Kathy K.L. Tran: yes
- Shelly A. Simonds: yes
- Joshua E. Thomas: yes
- Amy J. Laufer: yes
- Terry L. Austin: yes
- James W. Morefield: yes
- Robert S. Bloxom, Jr.: yes
- M. Keith Hodges: yes
- Scott A. Wyatt: yes
- Bill Wiley: yes
- Ellen H. McLaughlin: yes
H VOTE:
2026-02-25 · pass · 97-0
Member-level votes (99)
- Jessica L. Anderson: yes
- Bonita G. Anthony: yes
- Alex Q. Askew: yes
- Terry L. Austin: yes
- Jason S. Ballard: yes
- Robert S. Bloxom, Jr.: yes
- Gretchen M. Bulova: yes
- Katrina Callsen: yes
- Karen R. "Kacey" Carnegie: yes
- Betsy B. Carr: yes
- Stacey Annie Carroll: yes
- Mike A. Cherry: yes
- Nadarius E. Clark: yes
- Laura Jane Cohen: not voting
- Joshua G. Cole: yes
- Nicole Cole: yes
- Kelly K. Convirs-Fowler: yes
- Mitchell Cornett: yes
- Rae Cousins: yes
- Will Davis: yes
- Karrie K. Delaney: yes
- Lindsey Dougherty: yes
- Mark C. Downey: yes
- Michael B. Feggans: yes
- Hyland F. "Buddy" Fowler, Jr.: yes
- Lily V. Franklin: yes
- Margaret A. Franklin: yes
- Debra D. Gardner: yes
- Thomas A. Garrett, Jr.: yes
- Jackie H. Glass: yes
- Timothy P. Griffin: not voting
- Elizabeth R. Guzman: yes
- Karen Hamilton: yes
- C.E. Cliff Hayes, Jr.: yes
- Dan I. Helmer: yes
- Rozia A. Henson, Jr.: yes
- Phil M. Hernandez: yes
- Charniele L. Herring: yes
- M. Keith Hodges: yes
- Patrick A. Hope: yes
- Hillary Pugh Kent: yes
- Karen Keys-Gamarra: yes
- Terry G. Kilgore: yes
- Paul E. Krizek: yes
- Amy J. Laufer: yes
- James A. "Jay" Leftwich: yes
- Destiny LeVere Bolling: yes
- Alfonso H. Lopez: yes
- Michelle Lopes Maldonado: yes
- Marty Martinez: yes
- John Chilton McAuliff: yes
- Adele Y. McClure: yes
- Garrett McGuire: yes
- Ellen H. McLaughlin: yes
- Joseph P. McNamara: yes
- Kirk McPike: yes
- Delores L. McQuinn: yes
- Leslie Chambers Mehta: yes
- James W. Morefield: yes
- May Nivar: yes
- Delores Oates: yes
- Israel D. O'Quinn: yes
- Justin Pence: yes
- Eric Phillips: yes
- Kimberly Pope Adams: yes
- Marcia S. "Cia" Price: yes
- Sam Rasoul: yes
- Atoosa R. Reaser: yes
- David A. Reid: yes
- Chris S. Runion: yes
- Charlie Schmidt: yes
- Don Scott: yes
- Phillip A. Scott: yes
- Holly M. Seibold: yes
- Briana D. Sewell: yes
- Irene Shin: yes
- Marcus B. Simon: yes
- Shelly A. Simonds: yes
- JJ Singh: yes
- Richard C. "Rip" Sullivan, Jr.: yes
- Anne Ferrell Tata: yes
- Joshua E. Thomas: yes
- Virgil Thornton: yes
- Luke E. Torian: yes
- Kathy K.L. Tran: yes
- H. Otto Wachsmann, Jr.: yes
- Wendell S. Walker: yes
- Jeion A. Ward: yes
- R. Lee Ware: yes
- Vivian E. Watts: yes
- Michael J. Webert: yes
- Madison Whittle: yes
- Bill Wiley: yes
- Rodney T. Willett: yes
- Wren M. Williams: yes
- Tony O. Wilt: yes
- Thomas C. Wright, Jr.: yes
- Scott A. Wyatt: yes
- Eric R. Zehr: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z
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