House Bill 180 Summary

• Establishes the Idaho Work and Save for Retirement Program as a state-administered retirement savings program for covered employees without employer-sponsored retirement plans, effective July 1, 2021.

• Creates a nine-member board appointed by the governor, state treasurer, and legislative leaders to design, implement, and oversee the program with fiduciary duties under the Uniform Prudent Investor Act.

• Requires covered employers (private businesses without existing retirement plans) to facilitate payroll deduction contributions to employee accounts, with no employer contributions required.

• Establishes two separate funds: a retirement fund for employee contributions and investment earnings, and an administrative fund supported by legislative appropriations, employee fees, and other sources.

• Requires the program to be fully operational by June 30, 2022, with the board delivering an implementation plan and budget request to the legislature by January 1, 2022.