Loading chat...
WV HB4009
Bill
Status
Enrolled
3/14/2026
Primary Sponsor
Jonathan Kyle
Click for details
AI Summary
- Creates the Portable Benefit Account Act allowing independent contractors to open accounts for funding retirement benefits, health insurance, life insurance, and income replacement insurance
- Permits voluntary contributions to portable benefit accounts from hiring parties, internet-based or app-based companies, or the independent contractors themselves
- Requires written agreement with clear, prominent terms if contributions are withheld from an independent contractor's compensation, with mandatory opt-in and ability to opt out at any time
- Specifies that contributions to a portable benefit account cannot be used as a criterion for determining a worker's employment classification
- Authorizes banks, investment management firms, and technology providers to serve as portable benefit account administrators, subject to Bank Commissioner approval
Legislative Description
Relating to the creation of the Portable Benefit Account Act
Banking and Finance
Last Action
Completed legislative action
3/14/2026
Committee Referrals
Banking and Insurance2/19/2026
Finance2/11/2026
Banking & Insurance1/29/2026
Finance1/15/2026
Full Bill Text
No bill text available