Bill
H 1143
Overview: H 1143 - An Act to encourage retirement planningPurpose and Intent: The purpose of this bill is to promote retirement planning and savings among the state's residents. Th
Overview: H 1143 - An Act to encourage retirement planning
Purpose and Intent: The purpose of this bill is to promote retirement planning and savings among the state's residents. The goal is to help individuals better prepare for their financial future and reduce the burden on public assistance programs.
Key Provisions:
- Establishes a state-sponsored retirement savings program for private-sector employees without access to an employer-sponsored plan
- Provides tax credits and other incentives to encourage participation in the retirement savings program
- Requires employers to offer the state-sponsored retirement plan or an alternative private plan
Affected Parties and Impacts:
- Private-sector employees without access to an employer-sponsored retirement plan will have a new savings option
- Employers will be required to offer a retirement plan, which may impact their operations and costs
- The state may see reduced future costs for public assistance programs as more residents save for retirement
Procedural and Timeline Considerations:
- The bill has been rescheduled for a hearing on 10/30/2025 from 10:30 AM-02:00 PM in A-2
- The hearing end time has been updated
Compiled from official sources — confirm details with the bill’s official record.
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