HB1335
To Establish The Every Arkansan Retirement Plan Opportunity Act.
AI-Generated Summary
This bill proposes the establishment of the "Every Arkansan Retirement Plan Opportunity Act." The stated purpose of this act is to create this new retirement plan opportunity. The provided text indicates that the bill is in its initial stages, with language to be added and deleted as it progresses through the legislative process. No specific details about the nature or structure of the proposed retirement plan are included in this excerpt. The bill aims to provide an opportunity for Arkansans to access a retirement savings plan. Further legislative action and amendments will define the specifics of this program. The full scope and impact of the act are not detailed in this section. The core intent is to offer a new retirement savings option.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill, if enacted, would be Arkansas residents who currently lack access to employer-sponsored retirement savings plans. This could include individuals working for small businesses that do not offer such benefits, self-employed individuals, and gig economy workers. By establishing a state-facilitated retirement plan opportunity, the bill aims to encourage broader participation in retirement savings for these underserved populations, potentially leading to greater financial security in their later years.
Who Might Suffer?
Based on the limited text provided, it is not possible to identify specific groups or entities that would be directly negatively impacted. The bill's current focus is on establishing an opportunity, and the potential negative impacts would likely arise from the specific mechanisms and requirements of the retirement plan once those details are defined. Without information on funding, participation mandates, or administrative structures, any assessment of negative impact would be speculative.