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Senate committee approves voluntary portable benefit accounts for independent contractors
Summary
Lawmakers advanced Senate File 41 to allow voluntary portable benefit accounts for independent contractors, modeled on other states; the committee amendment added dental and vision benefits and clarified definitions of benefit providers and financial institutions.
Senator Olsen presented Senate File 41 on Feb. 17, proposing a voluntary framework for portable benefit accounts that independent contractors may opt into to receive health, retirement, income-replacement, life, dental and vision benefits through a financial-institution-managed account.
Olsen said roughly 65,000 independent…
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