HB 18-1298: Colorado Secure Savings Plan

• Creates a Colorado Secure Savings Plan Board within the Governor's Office to study the feasibility of establishing an automatic enrollment payroll deduction IRA retirement savings plan for private-sector employees.

• Board consists of 9 members including the Director of the Governor's Office of State Planning and Budgeting, plus 8 appointed members with expertise in investments, retirement plans, employer/employee representation, and local government.

• Board must conduct detailed market and financial analyses within two years to evaluate the Colorado Secure Savings Plan, a small business marketplace plan, financial education effects, and impacts of low retirement savings on government expenditures.

• Plan would automatically enroll employees of employers with 5+ employees who lack retirement plans, with 5% default contribution level and employee opt-out option; pooled investment funds designed for cost savings through economies of scale.

• Board shall submit findings and recommendations to Governor and General Assembly; any implementation would require separate legislative approval by bill after feasibility determination.