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Mississippi Lawmaker Introduces Legislation to Create State-Run Plan


Almost immediately after the New Year’s champagne stopped pouring, legislation arrived in the Mississippi House of Representatives that would establish a state-run plan that would provide retirement plan coverage for private-sector employees whose employers do not offer one. 

Rep. Orlando Paden (D-Clarksdale) on Jan. 4 introduced House Bill 204, which would establish the Mississippi Secure Choice Savings Program. The program would establish an automatic enrollment payroll deduction IRA that would be available to employees whose private-sector employers do not offer a plan. 

The bill also would create the Mississippi Secure Choice Savings Program Fund, which would be populated by funds from enrollees and participating employers through automatic payroll deductions.

Employers would be penalized for failing to comply with the requirements the program sets for them. It calls for the Department of Revenue to enforce collection of penalties. 


To administer the program, H.B. 204 would create the Mississippi Secure Choice Savings Board, which would: 

  • engage investment managers to invest the program’s funds;
  • establish investment options for enrollees; and 
  • design and provide to all employers an information packets for employer and employees. 


The bill calls for the program to be implemented, and for enrollment of employees to begin, in 2025. It also would require that all employees be enrolled after Dec. 31, 2027. 


The bill has been referred to the House Appropriations Committee.