All Roll Calls
Yes: 130 • No: 4
UtahH.B. 2502026 General SessionHouseWALLET
Utah Retirement Plan Exchange
Sponsored By: Joseph Elison (Republican)
Signed by Governor
Economic DevelopmentWorkforce ServicesPublic Retirement and InsuranceGovernment Operations (State Issues)Constitutional OfficersState Treasurer
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 0 benefits, 0 costs, 3 mixed.
Online retirement plan marketplace for Utah employers
The State Treasurer’s Office runs an online exchange where Utah employers compare and pick retirement plans. Eligible employers are nongovernment Utah employers with at least one worker, and eligible employees are W‑2 workers. The exchange lists only automatic‑enrollment IRAs and 401(k)s; IRAs use payroll deduction and do not take employer contributions, while 401(k)s may allow them. The office can show fewer plans in a search to make results easier and must keep a public list of all listed plans. For the first 24 months after launch, the office may cap how many providers list plans using fair, objective rules. The office starts taking provider applications by November 2, 2026, and the exchange begins operating by January 1, 2027.
Stronger oversight of exchange plan providers
The office lists a provider’s plan only if the provider applies, follows the law, is in good standing, agrees to monitoring, and meets rule‑based criteria. The office can suspend or remove a listing for false information, noncompliance, excessive fees, mismanaging assets, fiduciary breaches, or refusing to cooperate. Providers must promptly tell the office about legal or regulatory actions that affect compliance. The office sets formal rules for applications, monitoring and reporting, any initial provider limits, search presentation, and suspension or removal. It may hire contractors under the Utah Procurement Code, but not plan providers to perform the office’s duties. The state does not act as a fiduciary or investment adviser, does not endorse plans, and does not give individualized financial advice.
Yearly provider reports kept confidential
Each participating plan provider files a yearly report with employer and employee counts, total assets, the average balance, opt‑out rate, and any big fee or investment changes. These reports are protected from public disclosure under Utah’s records law.
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Sponsors & Cosponsors
Sponsor
Joseph Elison
Republican • House
Cosponsors
Brady Brammer
Republican • Senate
David Shallenberger
Republican • House
Jason E. Thompson
Republican • House
Roll Call Votes
Senate vote • 2/20/2026
Senate/ passed 3rd reading
Yes: 23 • No: 1
Senate vote • 2/19/2026
Senate/ passed 2nd reading
Yes: 24 • No: 1
House vote • 2/18/2026
Senate Comm - Favorable Recommendation
Yes: 6 • No: 0
House vote • 2/10/2026
House/ passed 3rd reading
Yes: 71 • No: 1
House vote • 2/10/2026
House/ substituted
Yes: 0 • No: 0
House vote • 1/30/2026
House Comm - Favorable Recommendation
Yes: 6 • No: 1
Actions Timeline
Governor Signed
3/24/2026House/ to Governor
3/12/2026HouseHouse/ received enrolled bill from Printing
3/12/2026HouseHouse/ enrolled bill to Printing
3/6/2026HouseEnrolled Bill Returned to House or Senate
3/6/2026Draft of Enrolled Bill Prepared
2/25/2026Bill Received from House for Enrolling
2/25/2026House/ signed by Speaker/ sent for enrolling
2/20/2026HouseHouse/ received from Senate
2/20/2026HouseSenate/ to House
2/20/2026SenateSenate/ signed by President/ returned to House
2/20/2026SenateSenate/ passed 3rd reading
2/20/2026SenateSenate/ 3rd reading
2/20/2026SenateSenate/ passed 2nd reading
2/19/2026SenateSenate/ 2nd reading
2/19/2026SenateSenate/ placed on 2nd Reading Calendar
2/18/2026SenateSenate/ committee report favorable
2/18/2026SenateSenate Comm - Favorable Recommendation
2/18/2026Senate/ to standing committee
2/13/2026SenateSenate/ 1st reading (Introduced)
2/12/2026SenateSenate/ received from House
2/10/2026SenateHouse/ to Senate
2/10/2026HouseHouse/ passed 3rd reading
2/10/2026HouseHouse/ substituted
2/10/2026HouseHouse/ 3rd reading
2/10/2026House
Bill Text
Enrolled
3/6/2026
Substitute #1
2/9/2026
Introduced
1/14/2026
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