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ID H0535
Bill
Status
2/4/2022
Primary Sponsor
Business Committee
Click for details
AI Summary
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Amends Section 67-1201, Idaho Code to revise the state treasurer's duties, including clarifying reporting requirements to the state controller regarding payment dates, numbers, and fund sources.
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Adds new Section 67-1203C to require the investment board to review low-cost, reputable individual retirement account (IRA) providers at the treasurer's request and highlight them on the treasurer's website.
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Tasks the investment board with creating policies and procedures for ongoing review of IRA investment providers and recommending changes to website content related to payroll deduction IRAs and retirement education.
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Adds a new duty for the treasurer to provide financial education to the general public to increase financial literacy and retirement preparedness, including partnering with other state agencies for outreach.
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Declares an emergency and makes the act effective July 1, 2022.
Legislative Description
Amends and adds to existing law to revise provisions regarding duties of the treasurer and to provide that the investment board shall review certain investment vehicles.
STATE TREASURER
Last Action
Reported Printed and Referred to State Affairs
2/7/2022