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House approves voluntary retirement plan exchange to expand small-business options
Utah House of Representatives · February 10, 2026
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Summary
The House passed first substitute HB 250 to create a voluntary marketplace where small businesses without employer-sponsored retirement plans can join a state-facilitated platform offering auto-IRA or 401(k)-style options. Sponsors said participation is voluntary and the private sector would manage funds; the bill passed 71–1.
Representative Joseph Eliasson presented HB 250, describing it as a voluntary marketplace that enables small businesses without retirement plans to offer employees access to retirement savings through a…
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