Introduced

Passed House

Passed Senate

Became law

Adjourned sine die. The bill was pending when the session ended, so it did not pass.

Last action · February 17, 2026

To Small Business & Information Technology (H)

Introduced February 9, 2026

House

Adjourned Sine Die

2026 Regular Session

HB597

AN ACT relating to retirement income savings plans for private sector employees.

Create new sections of KRS Chapter 41 to establish the Commonwealth Retirement Savings Plan as a voluntary payroll-deduction Roth IRA savings program for employees of private employers with fewer than 50 employees; define terms; create a governing board of trustees and specify responsibilities of the board in plan design and oversight; require the board to contract with a third-party administrator for plan administration; establish that the plan shall be implemented and enrollment of employees shall…

Administrative Regulations and Proceedings Banks and Financial Institutions Boards and Commissions Business Entities And Organizations Federal Laws and Regulations Fiduciaries Financial Responsibility Funds Investments Labor and Industry Personnel and Employment Reports Mandated Retirement and Pensions Treasurer Wages and Hours Workforce

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This bill would create a state-run retirement savings program called the Commonwealth Retirement Savings Plan, allowing employees at small private businesses to save for retirement through automatic paycheck deductions into a Roth IRA. Participation would be voluntary for employees, and the program would be run by a governing board that contracts with an outside administrator. If enough funding is secured, enrollment could begin on July 1, 2028. Who it may affect: employees and owners of small private businesses with fewer than 50 workers.

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