A bill for an act establishing a retirement savings plan trust, providing penalties, and including implementation provisions.

Summary

The bill establishes the Iowa Retirement Savings Plan Trust and requires qualifying Iowa employers to automatically enroll their employees in a retirement savings account, though employees may opt out. It sets up how contributions are collected, what investment options are offered, and mandates informational packets to help workers understand the program.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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