Establishing the Kansas empowerment savings program, authorizing certain employees to contribute to individual retirement accounts through an automatic payroll deduction and providing powers, duties, functions and responsibilities of the Kansas empowerment savings program board of trustees within the state treasurer's office concerning such program.

Also relevant to:Senior (65+, Medicare/SS)

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Plain-English Summary

This bill establishes the Kansas Empowerment Savings Program, which will allow eligible employees to contribute to individual retirement accounts through automatic payroll deductions. A board of trustees, housed within the State Treasurer's office, will oversee the program, which aims to provide a low-cost, portable retirement savings option for private-sector workers. The program is set to begin on July 1, 2027.

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