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MS HB4073

Bill

Official Source

Status

Engrossed

2/25/2026

Primary Sponsor

Jody Steverson

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Creates the Mississippi Work and Save Program, a state-sponsored voluntary retirement savings program allowing private-sector employees at businesses without existing retirement plans to contribute to Roth IRAs through payroll deduction
  • Sets default contribution rate at 5% of salary (with State Treasurer authority to adjust between 3-6%), with automatic enrollment and employee opt-out provisions, and contribution rate increases of up to 1% annually to a maximum of 8%
  • Requires total program fees and expenses not exceed 0.75% of total assets annually after a three-year start-up period
  • Authorizes issuance of state general obligation bonds to fund the Mississippi Work and Save Administrative Fund for program implementation costs
  • Exempts from state sales tax all admission charges for athletic games or contests between universities or colleges

Legislative Description

Mississippi Work and Save Program; create, authorize issuance of bonds and revise certain income and sales tax sections.

Last Action

Title Suff Do Pass As Amended

3/16/2026

Committee Referrals

Finance3/4/2026
Ways and Means2/24/2026

Full Bill Text

No bill text available