# Virginia HB176: State-facilitated IRA savings program; various changes to the program.

Virginia HB176, State-facilitated IRA savings program; various changes to the program., is a 2026 Regular Session House bill sponsored by Luke E. Torian (Democratic); status signed, last action 2026-04-06 (Acts of Assembly Chapter text (CHAP0084)); PRIA reads it as touching household money (as of 2026-10-12).

- Canonical: https://policyrisk.com/state-bill/VA-HB176-2026
- As of: 2026-10-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB176
- State: Virginia
- Session: 2026 Regular Session
- Title: State-facilitated IRA savings program; various changes to the program.
- Status: signed
- Chamber: House
- Introduced: 2026-01-06
- Last action: 2026-04-06, Acts of Assembly Chapter text (CHAP0084)
- Sponsor: Luke E. Torian (Democratic)
- Cosponsors: 0
- Touches household money: yes
- Roll calls: 8 (291 yes, 0 no in all)
- Economic provisions PRIA read: 2

## Summary

State-facilitated IRA savings program. Makes various changes to the state-facilitated IRA savings program administered by the Commonwealth Savers Plan. For purposes of defining an eligible employer, the bill (i) reduces the minimum number of eligible employees an organization must have in its employ from 25 to five for the period ending December 31 of the preceding calendar year prior to the program's open enrollment period for that calendar year and (ii) clarifies that such term does not include employers offering and sponsoring a qualified retirement plan, including 401(k) plans. The bill also removes the requirement that an eligible employee, for purposes of the program, works at least 30 hours a week and adds the requirement that participating individuals enrolling in the program independent of an employment relationship with an eligible employer be at least 18 years of age. The bill also expands the powers and duties of the governing board of the Commonwealth Savers Plan to include (a) procedures for reenrollment of participating employees and participating individuals; (b) allowing program participants to invest in a lifetime income option; (c) establishing the resources, tools, and incentives to promote greater financial education and literacy; (d) procedures for receiving and crediting federal matching contributions to an IRA or qualified retirement savings account; and (e) exploring and establishing incentives that encourage participation by eligible employers and eligible employees, including initiatives that incentivize compliance or that defray any costs incurred by an eligible employer to facilitate participation.The bill also requires eligible employers that withhold a program contribution from a participating employee's wages to remit such contribution not later than 10 business days following the date upon which such withholding was made and notes that eligible employers who fail to submit contributions to the program may be in violation of law and incur penalties. This bill is identical to SB 149.

## Bill overview: provisions PRIA read

- More savings options for workers and self-employed: benefit, high. Employees whose employers do not help them join Commonwealth Savers can enroll directly if they have Virginia taxable income. Self-employed people can join under Board rules without the Virginia-taxable-income requirement. Employers outside the required group can also help workers join voluntarily.…
- More workers qualify for Virginia retirement savings: benefit, high. Employed workers age 18 or older who receive wages can qualify for Virginia's Commonwealth Savers Plan without working 30 hours weekly. Nongovernmental Virginia businesses qualify with at least five eligible employees during the period ending December 31 before open enrollment. The law removes the…

## Sponsors and cosponsors

- Sponsor: Luke E. Torian (Democratic), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-03-11 | Senate | Passed Senate Block Vote | pass | 40 | 0 |   |
| 2026-03-11 | Senate | Passed Senate Block Vote | pass | 39 | 0 |   |
| 2026-03-11 | Senate | Reconsideration of Senate passage agreed to by Senate Block Vote | pass | 40 | 0 |   |
| 2026-03-10 | Senate | Constitutional reading dispensed Block Vote (on 2nd reading) | pass | 37 | 0 |   |
| 2026-03-10 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-03-09 | Senate | Reported from Finance and Appropriations | pass | 14 | 0 |   |
| 2026-01-27 | House | Read third time and passed House Block Vote | pass | 99 | 0 |   |
| 2026-01-21 | House | Reported from Appropriations | pass | 22 | 0 |   |

## Actions (27)

- 2026-04-06: Acts of Assembly Chapter text (CHAP0084) (Governor)
- 2026-04-06: Approved by Governor-Chapter 84 (effective 7/1/2026) (Governor)
- 2026-03-31: Fiscal Impact Statement from Department of Planning and Budget (HB176) (House)
- 2026-03-31: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor)
- 2026-03-31: Enrolled Bill communicated to Governor on March 31, 2026 (House)
- 2026-03-31: Signed by Speaker (House)
- 2026-03-30: Bill text as passed House and Senate (HB176ER) (House)
- 2026-03-30: Enrolled (House)
- 2026-03-30: Signed by President (Senate)
- 2026-03-11: Passed Senate Block Vote (40-Y 0-N 0-A) (Senate)
- 2026-03-11: Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A) (Senate)
- 2026-03-11: Passed Senate Block Vote (39-Y 0-N 0-A) (Senate)
- 2026-03-11: Read third time (Senate)
- 2026-03-10: Passed by for the day Block Vote (Voice Vote) (Senate)
- 2026-03-10: Constitutional reading dispensed Block Vote (on 2nd reading) (37-Y 0-N 0-A) (Senate)
- 2026-03-10: Rules suspended (Senate)
- 2026-03-09: Reported from Finance and Appropriations (14-Y 0-N) (Senate)
- 2026-01-28: Referred to Committee on Finance and Appropriations (Senate)
- 2026-01-28: Constitutional reading dispensed (on 1st reading) (Senate)
- 2026-01-27: Read third time and passed House Block Vote (99-Y 0-N 0-A) (House)
- 2026-01-26: Read second time and engrossed (House)
- 2026-01-23: Read first time (House)
- 2026-01-21: Reported from Appropriations (22-Y 0-N) (House)
- 2026-01-16: Fiscal Impact Statement from Department of Planning and Budget (HB176) (House)
- 2026-01-15: Assigned HAPP sub: General Government and Capital Outlay (House)
- 2026-01-06: Referred to Committee on Appropriations (House)
- 2026-01-06: Prefiled and ordered printed; Offered 01-14-2026 26101238D (House)

## Bill text

- Chaptered, 2026-04-06: [HTML](https://lis.blob.core.windows.net/files/1216380.HTML), [PDF](https://lis.blob.core.windows.net/files/1216379.PDF)
- Enrolled, 2026-03-30: [HTML](https://lis.blob.core.windows.net/files/1212229.HTML), [PDF](https://lis.blob.core.windows.net/files/1212228.PDF)
- Introduced, 2026-01-06: [HTML](https://lis.blob.core.windows.net/files/1082727.HTML), [PDF](https://lis.blob.core.windows.net/files/1082726.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1216380.HTML)
- [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1216379.PDF)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1212229.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1212228.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1082727.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1082726.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-HB176-2026 (as of 2026-10-12).