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

This bill establishes the Iowa Retirement Savings Plan Trust, managed by the Treasurer of State, to help Iowans save for retirement. Individuals employed in Iowa will be automatically enrolled with a default 5% contribution, but can opt out or adjust their contribution rate. The trust will follow federal tax laws for retirement plans, and the Treasurer will provide annual reports while keeping account information confidential.

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