Mississippi Work and Save Program; create.

Replaced the Mississippi Work and Save Board with the State Treasurer as the sole administrator of the program, removing the need for a separate board structure and member appointments.

Expanded eligibility to include self-employed individuals and independent contractors who can participate through payroll deduction or other means, not just traditional employees.

Added comprehensive disclosure requirements that employers must provide to employees, including information about tax-favored retirement benefits, Roth vs. traditional IRA options, contribution limits, and the fact that employers are not liable for investment decisions.

Added a cap on total fees and expenses at 0.75% of program assets annually, with a three-year start-up period exemption, to control administrative costs.

Strengthened liability protections for both employers and the state, explicitly stating that employers are not fiduciaries and have no responsibility for investment decisions, tax compliance, or participant outcomes.

Replaced the Board's authority to expend funds with the State Treasurer's authority to expend funds upon legislative appropriation, and added provisions for borrowing and start-up funding.

Added detailed definitions for key terms including 'covered employee,' 'covered employer,' 'payroll deduction IRA arrangement,' and 'total fees and expenses' to clarify program mechanics.

Added specific implementation timelines requiring the program to be established within 24 months of passage, with phased implementation options for different participant classes.