Establishes the Iowa retirement savings plan trust to help Iowans save for retirement.
The bill creates the Iowa retirement savings plan trust under the office of the treasurer of state. The trust aims to help Iowans save for retirement. The treasurer of state, as the trustee, has powers to manage the trust, including investing trust assets, entering into agreements, and collecting fees. The trust is not liable for any losses incurred by participants, and employers are not liable for participants' investment decisions.
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