A bill to create the secure retirement savings board and prescribe its powers and duties.
Senate Bills 807 and 808 create a mandatory state-run automatic IRA retirement savings program for Michigan private-sector employees whose employers do not offer qualified retirement plans, with employer facilitation, employee opt-out, and state oversight, but no state or employer liability for investment outcomes.
Introduced
by
Referred to the Committee on Labor
Reported without amendment
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 20 to 18 (details)
Referred to the Committee on Economic Competitiveness
