Bill > SB129

This bill amends the New Mexico Work and Save Act to provide more flexibility for the New Mexico Work and Save Board to implement the provisions of the Act. It clarifies definitions, provisions of the Work and Save programs, and the scope of authority of the Board. The bill establishes the Work and Save Fund, provides conditions for implementation of the Act and the Work and Save IRA Program, and makes an appropriation. The bill also specifies that the Board, Board members, and the state are not guarantors of the Work and Save programs. Overall, this bill aims to enhance the implementation and administration of the private sector retirement savings programs established under the New Mexico Work and Save Act.

Budget and Finance, Justice, Military Affairs and Security

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=129&year=21