Establishes the Arizona Retirement Savings Board and program for individual savings plans.
Creates the Arizona Retirement Savings Board to develop and maintain a program for individual savings plans. The program allows eligible individuals to contribute to an IRA, with employers automatically enrolling employees and offering the option to opt out. The board sets rules for enrollment, contributions, and investment options, aiming to maximize simplicity, ease of administration, and cost minimization. The program is designed to be portable, with participants retaining ownership of their contributions and earnings.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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