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Bill

Bill

SB 513

State administered retirement program.

2025 Regular Session Introduced by Ron Alting and 11 co-sponsors

Indiana proposes creating a state-run retirement savings program to provide retirement security options for workers lacking employer-sponsored plans.

Senator Randolph added as coauthor
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WeVote Research Nonpartisan
Bill Summary · SB 513

Legislative bill overview

SB 513 proposes establishing a state-administered retirement savings program in Indiana, likely designed to provide retirement security options for workers whose employers don't offer retirement plans. The bill has garnered bipartisan support, with multiple senators added as coauthors since its introduction in January 2025.

Why is this important

Approximately 40% of American private-sector workers lack access to employer-sponsored retirement plans, leaving them to save independently for retirement. A state-administered program could help close this gap by providing an accessible, low-cost savings vehicle, potentially reducing future reliance on public assistance programs for elderly residents.

Potential points of contention

  • Private sector concerns: Financial services industry may oppose competition from a government-run program that could undercut their retirement products
  • Implementation costs: Establishing and administering a state retirement system requires significant upfront investment and ongoing operational expenses
  • Investment risk and returns: Questions about how the program manages investment risk, whether returns are guaranteed, and who bears losses if investments underperform
  • Participation requirements: Debate over whether participation should be mandatory or voluntary, and implications for small business compliance
  • Portability and access: Unclear how workers transfer accounts between jobs or access funds in emergencies without penalties

Compiled from official sources — confirm details with the bill’s official record.

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