With time running out on the legislative session, progress on a state-run retirement program for the Centennial State has been postponed indefinitely.
Pensions & Investments reports that HB 1403, which provided the foundation for the Colorado Secure Savings Plan was, at the request of the bill’s sponsors, postponed indefinitely in light of lawmakers’ concerns that a compromise solution could not be reached during this legislative session.
As is the case with a number of these state-run retirement plan initiatives, the Colorado proposal would create auto-enrollment, payroll-deducted Roth IRA accounts for employees who do not have access to a workplace retirement plan.
HB 1403 was introduced in the House on March 24, though it was never called for a vote. The 2016 legislative session is scheduled to adjourn May 11.
Supporters of the measure plan to introduce legislation again in the 2017 session.
