MI HB5335

Creates the Secure Retirement Savings Board within the Department of Treasury, consisting of 7 members including the state treasurer (serving as chair), a director from the Department of Technology, Management, and Budget, and governor-appointed representatives

Governor appoints 4 members: two public representatives with retirement savings expertise, one representative of participating employers, and one representative of enrollees, all subject to Senate confirmation

Board members serve without compensation but may receive reimbursement for travel expenses

Initial appointed terms staggered at 2, 3, and 4 years; subsequent appointments are for 4-year terms

Effectiveness contingent on enactment of companion legislation (SB ____ or HB 5336) establishing the retirement savings program