Concerning the Washington saves administrative trust account.

HB 1477 establishes a dedicated administrative trust account to cover the operational costs of Washington Saves, the state's automatic retirement savings program for eligible workers. The account, managed by the state treasurer, funds program administration (like staff and technology) but cannot pay employee benefits. It affects small businesses with 10,400+ combined employee hours annually that don’t offer retirement plans to long-term staff (called "covered employers"). Key rules include using only state/federal grants or interest earnings for admin costs, requiring director approval for spending, and prohibiting commingling with employee savings.