SB 513 IN

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Establishes a board to design, establish, and operate a state administered retirement program (program) that automatically enrolls specified private sector employees. Requires program compliance by certain employers that have not, in the previous two calendar years, offered a qualified retirement plan to employees. Specifies the powers and duties of the board. Specifies program requirements, including default contribution levels and program fees. Requires the board to contract with investment managers, private financial institutions, or other service providers to invest money and administer the program. Limits the liability of particular parties associated with the program. Specifies board requirements for disclosure, audits, and reports. Requires the board to adopt certain rules. Makes an appropriation.

• Vaneta Becker Republican · author
• Greg Walker Republican · author
• Ron Alting Republican · author

1. Jan 16, 2025 Authored by Senators Becker, Walker G, Alting · upper
2. Jan 16, 2025 First reading: referred to Committee on Appropriations · upper
3. Jan 16, 2025 Coauthored by Senators Qaddoura, Hunley, Jackson L, Pol · upper
4. Jan 21, 2025 Senator Ford J.D. added as coauthor · upper
5. Jan 27, 2025 Senators Leising and Glick added as coauthors · upper
6. Jan 29, 2025 Senator Niezgodski added as coauthor · upper
7. Feb 17, 2025 Senator Randolph added as coauthor · upper