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HB2649

Establishing the Kansas empowerment savings program, authorizing certain employees to contribute to individual retirement accounts through an automatic payroll deduction and providing powers, duties, functions and responsibilities of the Kansas empowerment savings program board of trustees within the state treasurer's office concerning such program.

Introduced·2/3/26
Introduced Text

Kansas HB2649 establishes the Kansas Empowerment Savings Program, an automatic payroll deduction retirement savings program for eligible employees.

Kansas HB2649 establishes the Kansas Empowerment Savings Program within the state treasurer's office. The program automatically enrolls eligible employees in individual retirement accounts with a default contribution of 5% of their wages. Employers are not liable for employee investment decisions or program administration. The program aims to maximize participation, savings, and investment practices, ensuring portability and financial security in retirement.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Financial Institutions and Pensions Committee
Next
Committee decision

Sponsors

0
0
Democratic CaucusRepublican Caucus

Calendar

Feb 11

9:00 AM

House Financial Institutions and Pensions Hearing

History

Feb 11

House

House Hearing: Wednesday, February 11, 2026, 9:00 AM Room 582-N - CANCELED

Feb 3

House

House Introduced

Feb 3

House

House Referred to Committee on Financial Institutions and Pensions