WA People
BILL · 2023–24 SESSION

HB 2244: Retirement savings

Improving retirement security for Washingtonians by establishing Washington saves, an automatic enrollment individual retirement savings account program, and updating the Washington retirement marketplace statute.

Summary

  • Establishes Washington Saves, a state-facilitated automatic enrollment individual retirement savings account program.
  • Establishes a governing board, chaired by the State Treasurer to establish, design, implement, manage, and oversee Washington Saves.
  • Permits an investment manager to invest the program funds and establishes an administrative account and trust account.
  • Establishes regulations and procedures for confidentiality, complaints, appeals, violations, and civil penalties.
  • Makes changes to the Washington Small Business Retirement Marketplace.

From the House Bill Analysis 2024 (HB 2244), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 9, 2024
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Kristine Reeves (D-30)
Introduced
January 9, 2024 in the House
Last action
January 9, 2024
Requested by
State agency
Companion bill
SB 6069
Budget
Has a fiscal note

AN ACT Relating to improving retirement security for Washingtonians by establishing Washington saves, an automatic enrollment individual retirement savings account program, and updating the Washington retirement marketplace statute;

Sponsors

Prime sponsor: Kristine Reeves (D-30)

11 co-sponsors (11 Democrats, 0 Republicans)

Amy Walen D-48Tana Senn D-41Alex Ramel D-40Mike Chapman D-24Frank Chopp D-43Timm Ormsby D-3Julia Reed D-36Mary Fosse D-38Mari Leavitt D-28Lauren Davis D-32Marcus Riccelli D-3

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. First reading, referred to Consumer Protection & Business.

HB 2244 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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