Bill Commons

VA SB 149

enacted

State-facilitated IRA savings program; various changes to the program.

Virginia · 2026 Regular Session · upper

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
Status date
—
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

  1. 2026-01-07

    Prefiled and ordered printed; Offered 01-14-2026 26101585D

    filing,introduction

  2. 2026-01-07

    Referred to Committee on Finance and Appropriations

    referral-committee

  3. 2026-01-16

    Fiscal Impact Statement from Department of Planning and Budget (SB149)

  4. 2026-01-28

    Reported from Finance and Appropriations (13-Y 0-N)

    committee-passage

  5. 2026-01-29

    Rules suspended

  6. 2026-01-29

    Constitutional reading dispensed (on 1st reading) (40-Y 0-N 0-A)

  7. 2026-01-29

    Passed by for the day (Voice Vote)

  8. 2026-01-29

    Passed by for the day

  9. 2026-01-30

    Read second time

    reading-2

  10. 2026-01-30

    Engrossed by Senate (Voice Vote)

  11. 2026-02-02

    Read third time and passed Senate (40-Y 0-N 0-A)

    passage,reading-3

  12. 2026-02-05

    Placed on Calendar

  13. 2026-02-05

    Read first time

    reading-1

  14. 2026-02-05

    Referred to Committee on Appropriations

    referral-committee

  15. 2026-02-18

    Assigned HAPP sub: General Government and Capital Outlay

    referral-committee

  16. 2026-02-20

    Reported from Appropriations (22-Y 0-N)

    committee-passage

  17. 2026-02-24

    Read second time

    reading-2

  18. 2026-02-25

    Read third time

    reading-3

  19. 2026-02-25

    Passed House (97-Y 0-N 0-A)

    passage

  20. 2026-02-27

    Enrolled

    enrolled

  21. 2026-02-27

    Bill text as passed Senate and House (SB149ER)

    passage

  22. 2026-02-27

    Fiscal Impact Statement from Department of Planning and Budget (SB149)

  23. 2026-02-27

    Signed by Speaker

    passage

  24. 2026-02-27

    Signed by President

    passage

  25. 2026-03-10

    Enrolled Bill communicated to Governor on March 10, 2026

    enrolled,executive-receipt

  26. 2026-03-10

    Governor's Action Deadline 11:59 p.m., April 13, 2026

    executive-receipt

  27. 2026-04-06

    Approved by Governor-Chapter 85 (effective 7/1/2026)

    executive-signature

  28. 2026-04-06

    Acts of Assembly Chapter text (CHAP0085)

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

https://lis.virginia.gov/bill-details/20261/SB149

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z

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