North Carolina Work and Save.

HB 79, "North Carolina Work and Save," creates a voluntary retirement savings program for North Carolina workers without access to employer-sponsored plans. It allows covered employers (small businesses not already offering tax-qualified retirement plans) to set up payroll deduction IRAs (traditional or Roth) for employees, enabling automatic retirement savings. The program is administered by a 12-member Board under the Department of Commerce, with funds held in a trust managed by private entities. It directly affects approximately 1.7 million North Carolina workers in small businesses, focusing on moderate- and lower-income households to improve retirement security. Participation is voluntary for both employers and employees, with no state funding required for employer participation.