individual savings plan program; appropriation

HB 4126 establishes Arizona's state-run retirement savings program, targeting private-sector employees without access to employer-sponsored retirement plans (excluding government workers, railroad employees, and those in existing tax-qualified plans). The bill creates an Arizona Retirement Savings Board to manage the program, allowing workers to contribute to individual retirement accounts (IRAs) through automatic payroll deductions. Key provisions include requiring the Board to develop investment policies, partner with private administrators, and ensure federal tax compliance for the program. The title references "appropriation" as future funding would be authorized separately, but the bill itself only sets up the program framework.