HB631

Mississippi Work and Save Program establishes a retirement savings program for eligible employees.

The Mississippi Work and Save Program establishes a retirement savings program for eligible employees, allowing them to contribute to an IRA through payroll deduction. The State Treasurer is responsible for designing, developing, and implementing the program. The program aims to facilitate saving for retirement, particularly for moderate- and lower-income working households. The Mississippi Work and Save Administrative Fund is created to manage the program's administrative costs and expenses. The program is designed to be financially self-sustaining and avoid preemption by ERISA.