Mississippi legislation · 2026 Regular Session
Mississippi HB4073: Mississippi Work and Save Program; create; revise certain PERS provisions.
Status: Signed into law, April 8, 2026
AN ACT TO CREATE THE MISSISSIPPI WORK AND SAVE PROGRAM, WHICH IS A RETIREMENT SAVINGS PROGRAM SPONSORED BY THE STATE FOR CERTAIN EMPLOYERS WHO DO NOT ALREADY OFFER A RETIREMENT PLAN THAT WILL ALLOW THOSE EMPLOYERS TO OFFER ELIGIBLE EMPLOYEES THE VOLUNTARY CHOICE TO CONTRIBUTE TO AN INDIVIDUAL RETIREMENT ACCOUNT (IRA) THROUGH A PAYROLL DEDUCTION; TO PROVIDE THE POWERS, AUTHORITY AND DUTIES OF THE STATE TREASURER; TO PRESCRIBE THE REQUIREMENTS FOR THE PROGRAM; TO PROVIDE THAT THE IRA TO WHICH CONTRIBUTIONS ARE MADE WILL BE A ROTH IRA AND THE STANDARD PACKAGE WILL BE A ROTH IRA WITH A TARGET DATE FUND INVESTMENT AND A SPECIFIED CONTRIBUTION PERCENTAGE; TO PROVIDE CERTAIN PROTECTION FROM LIABILITY FOR EMPLOYERS IN THE PROGRAM AND FOR THE STATE; TO PROVIDE FOR THE CONFIDENTIALITY OF PARTICIPANT AND ACCOUNT INFORMATION; TO CREATE THE MISSISSIPPI WORK AND SAVE ADMINISTRATIVE FUND AS A SPECIAL FUND IN THE STATE TREASURY; TO PROVIDE THAT MONIES IN THE FUND SHALL BE EXPENDED UPON APPROPRIATION OF THE LEGISLATURE, FOR THE PURPOSES AUTHORIZED IN THE MISSISSIPPI WORK AND SAVE PROGRAM; TO AMEND SECTION 25-14-5, MISSISSIPPI CODE OF 1972, TO ALLOW THE MISSISSIPPI DEFERRED COMPENSATION PLAN AND TRUST TO OFFER ROTH ACCOUNTS AND OTHER AFTER-TAX CONTRIBUTION VEHICLES; TO PROVIDE THAT A PARTICIPANT'S ROTH OR OTHER ALLOWABLE AFTER-TAX CONTRIBUTION INTO A DEFERRED COMPENSATION ACCOUNT SHALL BE TREATED BY THE EMPLOYER AS INCLUDABLE IN THE PARTICIPANT'S INCOME AT THE TIME THE PARTICIPANT WOULD HAVE RECEIVED THAT AMOUNT IN COMPENSATION IF THE PARTICIPANT HAD NOT MADE A DEFERRED ELECTION; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR THE MISSISSIPPI WORK AND SAVE ADMINISTRATIVE FUND; TO AMEND SECTION 25-14-15, MISSISSIPPI CODE OF 1972, TO CONFORM; TO AMEND SECTION 25-11-105, MISSISSIPPI CODE OF 1972, TO REQUIRE ANY TERMINATED PLAN PREVIOUSLY APPROVED BY THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO PAY TO THE BOARD ITS PORTION OF THE NE
What the bill says
An act to create the mississippi work and save program, which is a retirement savings program sponsored by the state for certain employers who do not already offer a retirement plan that will allow those employers to offer eligible employees the voluntary choice to contribute to an individual retirement account (ira) through a payroll deduction; to provide the powers, authority and duties of the state treasurer; to prescribe the requirements for the program…
From the enrolled text, April 1, 2026:
AN ACT TO CREATE THE MISSISSIPPI WORK AND SAVE PROGRAM, WHICH IS A RETIREMENT SAVINGS PROGRAM SPONSORED BY THE STATE FOR CERTAIN EMPLOYERS WHO DO NOT ALREADY OFFER A RETIREMENT PLAN THAT WILL ALLOW THOSE EMPLOYERS TO OFFER ELIGIBLE EMPLOYEES THE VOLUNTARY CHOICE TO CONTRIBUTE TO AN INDIVIDUAL RETIREMENT ACCOUNT (IRA) THROUGH A PAYROLL DEDUCTION; TO PROVIDE THE POWERS, AUTHORITY AND DUTIES OF THE STATE TREASURER; TO PRESCRIBE THE REQUIREMENTS FOR THE PROGRAM; TO PROVIDE THAT THE IRA TO WHICH CONTRIBUTIONS ARE MADE WILL BE A ROTH IRA AND THE STANDARD PACKAGE WILL BE A ROTH IRA WITH A TARGET DATE FUND INVESTMENT AND A SPECIFIED CONTRIBUTION PERCENTAGE; TO PROVIDE CERTAIN PROTECTION FROM LIABILITY FOR EMPLOYERS IN THE PROGRAM AND FOR THE STATE; TO PROVIDE FOR THE CONFIDENTIALITY OF PARTICIPANT AND ACCOUNT INFORMATION; TO CREATE THE MISSISSIPPI WORK AND SAVE ADMINISTRATIVE FUND AS A SPECIAL FUND IN THE STATE TREASURY; TO PROVIDE THAT MONIES IN THE FUND SHALL BE EXPENDED UPON APPROPRIATION OF THE LEGISLATURE, FOR THE PURPOSES AUTHORIZED IN THE MISSISSIPPI WORK AND SAVE PROGRAM; TO AMEND SECTION 25-14-5, MISSISSIPPI CODE OF 1972, TO ALLOW THE MISSISSIPPI DEFERRED COMPENSATION PLAN AND TRUST TO OFFER ROTH ACCOUNTS AND OTHER AFTER-TAX CONTRIBUTION VEHICLES; TO PROVIDE THAT A PARTICIPANT'S ROTH OR OTHER ALLOWABLE AFTER-TAX CONTRIBUTION INTO A DEFERRED COMPENSATION ACCOUNT SHALL BE …
Sponsors
- Steverson, Jody (R, 4) · primary sponsor
Latest actions
- : Approved by Governor
- : Enrolled Bill Signed
- : Conference Report Adopted
- : Conference Report Filed
- : Conferees Named Harkins,Sparks,Michel
- : Conferees Named Lamar,Steverson,Zuber
- : Decline to Concur/Invite Conf
- : Returned For Concurrence
- : Passed As Amended
- : Amended
Votes
- Conference Report Adopted (March 29, 2026): 120 yea, 0 nay, passed
- Conference Report Adopted (March 29, 2026): 49 yea, 1 nay, passed
- Passed As Amended (March 18, 2026): 51 yea, 0 nay, passed
- Passed As Amended (March 17, 2026): 51 yea, 1 nay, passed
- Passed As Amended (February 25, 2026): 118 yea, 1 nay, passed
Subjects: Mississippi Work and Save Program
Common questions
- What is HB4073?
- HB4073 is a bill in the Mississippi Legislature (2026 Regular Session): Mississippi Work and Save Program; create; revise certain PERS provisions.
- What does HB4073 do?
- In its own words: An act to create the mississippi work and save program, which is a retirement savings program sponsored by the state for certain employers who do not already offer a retirement plan that will allow those employers to offer eligible employees the voluntary choice to contribute to an individual retirement account (ira) through a payroll deduction; to provide the powers, authority and duties of the state treasurer; to prescribe the requirements for the program…
- What is the status of HB4073?
- Signed into law as of April 8, 2026. Latest action: Approved by Governor (April 8, 2026).
- Who sponsored HB4073?
- Steverson, Jody (R, 4).
- Where is the official record for HB4073?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4073.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.