Retirement: other; MI secure retirement program board; establish. Creates new act. TIE BAR WITH: HB 5336'25

Michigan House Bill 5335, introduced on December 2, 2025, aims to establish the Secure Retirement Savings Board within the Department of Treasury. This seven-member board will oversee the creation and management of a state-run retirement savings program for private-sector employees who lack access to employer-sponsored retirement plans. The board will consist of the state treasurer (or their designee) as chair, a designee of the state treasurer, the director of the Department of Technology, Management, and Budget (or their designee), two public representatives with expertise in retirement savings plan administration or investment, a representative of participating employers, and a representative of enrollees. Members will serve without compensation but may be reimbursed for necessary travel expenses. The bill is tied to House Bill 5336, which focuses on creating a retirement program for certain nonpublic employees to participate in a benefit plan. ([legiscan.com](https://legiscan.com/MI/text/HB5335/2025?utm_source=openai))

The establishment of the Secure Retirement Savings Board is expected to provide a structured and accessible retirement savings option for private-sector employees without employer-sponsored plans, potentially enhancing financial security for many workers in Michigan. The inclusion of experts and representatives from various sectors on the board suggests a comprehensive approach to program development.

Some concerns may arise regarding the implementation and management of the state-run retirement program, including potential administrative costs and the effectiveness of the program in encouraging participation among eligible employees. Additionally, the tie-bar with House Bill 5336 indicates that the program's success may depend on the passage of related legislation, which could face its own set of challenges.