North Carolina 2025 Session Status: In Committee Bipartisan · 14 R · 11 D cosponsors

HB 79 — North Carolina Work and Save.

Last action — Reptd Fav

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced February 10, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 25 sponsors

    3 primary, 22 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (14 R · 11 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill establishes a retirement savings program for small business employees in North Carolina.

House Bill 79 aims to create the North Carolina Small Business Retirement Savings Program, enabling workers to save for retirement through payroll deduction IRAs. It targets employees without access to employer-sponsored retirement plans.

What this means for you
  • Workers: Workers will have a new way to save for retirement through payroll deduction IRAs.
  • Small Business: This bill may help small businesses offer retirement savings options to their employees.

Bill Text

What changed in the latest version

34 added · 33 removed

Plain-language change summary

House Bill 79 has undergone some revisions where specific lines of text were added and removed. Notably, there were enhancements in sections related to retirement security, suggesting a stronger focus on supporting North Carolina households in their retirement planning. These adjustments aim to clarify how the state will help citizens save more effectively, which is significant as it can lead to better financial security for many residents in their later years.

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GENERAL ASSEMBLY OF NORTH CAROLINA H.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 H 1 HOUSE BILL 79 Short Title:
79 Feb 10, 2025 SESSION 2025 HOUSE PRINCIPAL CLERK H D HOUSE BILL DRH40064-MCa-6A Short Title:
Representative Lowery.
Representatives Lowery, McNeely, and Warren (Primary Sponsors).
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
A BILL TO BE ENTITLED ANACTTOCREATETHESMALLBUSINESS RETIREMENTSAVINGSPROGRAMAND TO APPROPRIATE FUNDS.
Appropriations, if favorable, Rules, Calendar, and Operations of the House February 11, 2025 A BILL TO BE ENTITLED ANACTTOCREATETHESMALLBUSINESS RETIREMENTSAVINGSPROGRAMAND TO APPROPRIATE FUNDS.
and Whereas, more adequate, portable, low-cost, and consumer-protective retirement saving by North Carolina households will enhancetheirretirement security and ultimatelyreduce the pressure on State public assistance programs for retirees and other elderly citizens and the potential burden on North Carolina taxpayers to finance such programs;
and Whereas, more adequate, portable, low-cost, and consumer-protective retirement savingbyNorth Carolina households will enhancetheirretirement securityand ultimatelyreduce the pressure on State public assistance programs for retirees and other elderly citizens and the potential burden on North Carolina taxpayers to finance such programs;
*DRH40064-MCa-6A* General Assembly Of North Carolina Session 2025 (3) Covered employee.
*H79-v-1* General Assembly Of North Carolina Session 2025 (3) Covered employee.
Page 2 DRH40064-MCa-6A General Assembly Of North Carolina Session 2025 (15) Traditional IRA.
Page 2 House Bill 79-First Edition General Assembly Of North Carolina Session 2025 (15) Traditional IRA.
One member from the Office of State Budget andManagement or other designee knowledgeable about fiscal impacts.
One member from the Office of State Budget and Management or other designee knowledgeable about fiscal impacts.
DRH40064-MCa-6A Page 3 General Assembly Of North Carolina Session 2025 (2) In addition to the 10votingmembers,thePresident ProTempore of theSenate and the Speaker of the House of Representatives shall each appoint one nonvoting advisory member.
House Bill 79-First Edition Page 3 General Assembly Of North Carolina Session 2025 (2) In addition to the 10votingmembers, thePresident ProTempore of theSenate and the Speaker of the House of Representatives shall each appoint one nonvoting advisory member.
To arrange for collective, common, and pooled investment of assets of the Program and Trust, including investments in conjunction with Page 4 DRH40064-MCa-6A General Assembly Of North Carolina Session 2025 other funds with which these assets are permitted by law to be collectively invested, with a view to achieving economies of scale and other efficiencies designed to minimize costs for the Program and its participants, to promote portability of benefits.
To arrange for collective, common, and pooled investment of assets of the Program and Trust, including investments in conjunction with Page 4 House Bill 79-First Edition General Assembly Of North Carolina Session 2025 other funds with which these assets are permitted by law to be collectively invested, with a view to achieving economies of scale and other efficiencies designed to minimize costs for the Program and its participants, to promote portability of benefits.
The Board shall strive to design and implement investment options available to holders of accounts established as part of the Program and otherProgram features thatareintendedto achieve maximum possibleincome replacement balanced with an appropriate level of risk in an IRA-based environment consistent with the investment objectives under the policy.
The Board shall strive to design and implement investment options available to holders of accounts established as part of the Program and otherProgram features thatareintendedto achieve maximumpossibleincome replacement balanced with an appropriate level of risk in an IRA-based environment consistent with the investment objectives under the policy.
The investment options may encompass a range of risk and return opportunities and allow for a rate of return commensurate with an appropriate level of risk in viewoftheinvestment objectives under thepolicy.Themenu ofinvestment options shall be determined taking into account the nature and objectives of the Program, the desirability based on behavioral research findings of limiting investment choices under the Program to a reasonable number, and the extensive investment choices available to participants in the event that they roll over to an IRA outside the Program.
The investment options may encompass a range of risk and return opportunities and allow for a rate of return commensurate with an appropriate level of risk in viewoftheinvestment objectives under thepolicy.
Themenu ofinvestment options shall be determined taking into account the nature and objectives of the Program, the desirabilitybased on behavioral research findings of limiting investment choices under the Program to a reasonable number, and the extensive investment choices available to participants in the event that they roll over to an IRA outside the Program.
Services of private and public financial institutions, depositories, consultants, actuaries, counsel, auditors, investment advisers, investment administrators, investment management firms, other DRH40064-MCa-6A Page 5 General Assembly Of North Carolina Session 2025 investment firms, third-party administrators, other professionals and service providers, and State public retirement systems.
Services of private and public financial institutions, depositories, consultants, actuaries, counsel, auditors, investment advisers, investment administrators, investment management firms, other House Bill 79-First Edition Page 5 General Assembly Of North Carolina Session 2025 investment firms, third-party administrators, other professionals and service providers, and State public retirement systems.
The memoranda of understanding may cover the sharing of costs incurred in gathering and disseminating information and the reimbursement of costs for any enforcement activities or assistance.
The memoranda of understanding may cover the sharingof costs incurred in gatheringand disseminatinginformation and the reimbursement of costs for any enforcement activities or assistance.
(19) Borrow from the State, any unit of federal, State, or local government, or any other person, firm, partnership, corporation, or other entity working capital fundsand other funds as maybenecessary for this purpose,providedthatsuch funds are borrowed in the name of the Program and Board only and that any such borrowings shall be payable solely from the revenues of the Program.
(19) Borrow from the State, any unit of federal, State, or local government, or any other person, firm, partnership, corporation, or other entity working capital fundsand other funds as maybenecessaryfor this purpose, provided thatsuch funds are borrowed in the name of the Program and Board only and that any such borrowings shall be payable solely from the revenues of the Program.
(20) Enter into long-term procurement contracts with one or more financial providersthatprovideafeestructurethatwouldassistthePrograminavoiding or minimizing the need to borrow or to rely upon general assets of the State.
(20) Enter into long-term procurement contracts with one or more financial providersthatprovideafeestructurethatwouldassisttheProgramin avoiding or minimizing the need to borrow or to rely upon general assets of the State.
Page 6 DRH40064-MCa-6A General Assembly Of North Carolina Session 2025 (2) Borrow any Program-related funds or deposits or use any such funds or deposits in any manner, for himself or herself or as an agent or partner of others.
Page 6 House Bill 79-First Edition General Assembly Of North Carolina Session 2025 (2) Borrow any Program-related funds or deposits or use any such funds or deposits in any manner, for himself or herself or as an agent or partner of others.
DRH40064-MCa-6A Page 7 General Assembly Of North Carolina Session 2025 (11) Allow portability of benefits, including the ability to make tax-free rollovers ortransfersfromaccounts undertheProgram to othernon-Program retirement accounts or to tax-qualified plans that accept such rollovers or transfers provided any rollover is initiated by the employee.
House Bill 79-First Edition Page 7 General Assembly Of North Carolina Session 2025 (11) Allow portability of benefits, including the ability to make tax-free rollovers ortransfersfromaccounts undertheProgram to othernon-Program retirement accounts or to tax-qualified plans that accept such rollovers or transfers provided any rollover is initiated by the employee.
Specify the contents, frequency, timing, and means of required disclosures from the Program to covered employees, participants, Page 8 DRH40064-MCa-6A General Assembly Of North Carolina Session 2025 other individuals eligible to participate in the Program, covered employers, and other interested parties.
Specify the contents, frequency, timing, and means of required disclosures from the Program to covered employees, participants, Page 8 House Bill 79-First Edition General Assembly Of North Carolina Session 2025 other individuals eligible to participate in the Program, covered employers, and other interested parties.
The eligibility rules for Roth IRAs and, if applicable, traditional IRAs.
The eligibilityrules for Roth IRAs and, if applicable, traditional IRAs.
(3) The administration, investment, investment returns, or investment performance of the Program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided they play no role.
(3) The administration, investment, investment returns, or investment performance of the Program, including, without limitation, anyinterest rate or other rate of return on anycontribution or account balance, provided theyplay no role.
DRH40064-MCa-6A Page 9 General Assembly Of North Carolina Session 2025 (5) Individuals' awareness of or compliance with the conditions and other provisions of the tax laws that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner.
House Bill 79-First Edition Page 9 General Assembly Of North Carolina Session 2025 (5) Individuals' awareness of or compliance with the conditions and other provisions of the tax laws that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner.
(1) Shall have no responsibility for compliance by individuals with the conditions and other provisions of the Internal Revenue Code that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner.
(1) Shall have no responsibilityfor compliance byindividuals with the conditions and other provisions of the Internal Revenue Code that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner.
(1) To the extent necessary to administer the Program in a manner consistent with this Article, the tax laws of this State, and the Internal Revenue Code;
(1) To the extent necessaryto administer the Program in a manner consistent with this Article, the tax laws of this State, and the Internal Revenue Code;
Page 10 DRH40064-MCa-6A General Assembly Of North Carolina Session 2025 (a) The Board shall cause an accurate account of all ofthe Program's, Trust's, and Board's activities, operations, receipts, and expenditures to be maintained.
Page 10 House Bill 79-First Edition General Assembly Of North Carolina Session 2025 (a) The Board shall cause an accurate account of all ofthe Program's, Trust's, and Board's activities, operations, receipts, and expenditures to be maintained.
There is appropriated from the General Fund to the Department of Commerce the sum of four hundred thousand dollars ($400,000) in nonrecurring funds for the 2025-2026 fiscal year and the sum of six hundred thousand dollars ($600,000) in nonrecurring fundsforthe2026-2027fiscalyear.TheDepartmentshallallocatethefundstotheNorthCarolina Small Business Retirement Savings Program Board (Board) to be used for the following:
There is appropriated from the General Fund to the Department of Commerce the sum of four hundred thousand dollars ($400,000) in nonrecurring funds for the 2025-2026 fiscal year and the sum of six hundred thousand dollars ($600,000) in nonrecurring fundsforthe2026-2027fiscal year.TheDepartmentshallallocatethefundstotheNorthCarolina Small Business Retirement Savings Program Board (Board) to be used for the following:
DRH40064-MCa-6A Page 11
House Bill 79-First Edition Page 11
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Action History

  1. Reptd Fav

  2. Re-ref Com On Insurance

  3. Serial Referral To Appropriations Stricken

  4. Serial Referral To Rules, Calendar, and Operations of the House Stricken

  5. Withdrawn From Com

  6. Re-ref to the Com on Pensions and Retirement, if favorable, Insurance, if favorable, Appropriations, if favorable, Rules, Calendar, and Operations of the House

  7. Serial Referral To Rules, Calendar, and Operations of the House Stricken

  8. Withdrawn From Com

  9. Re-ref to the Com on Insurance, if favorable, Appropriations, if favorable, Rules, Calendar, and Operations of the House

  10. Passed 1st Reading

  11. Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House

  12. Filed

Sponsors

Sponsorship breakdown

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3 sponsors · 22 co-sponsors · 154 not signed on

Sponsors (3)

Co-sponsors (22)

Not signed on (154)

154 members have not signed on to this bill.

Show all 154 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 79?
HB 79 is sponsored by Donna McDowell White (Republican), Bill Ward (Republican), Amos L. Quick, III (Democratic), Larry W. Potts (Republican), Rodney D. Pierce (Democratic), Garland E. Pierce (Democratic), Howard Penny, Jr. (Republican), Tim Longest (Democratic), Keith Kidwell (Republican), Abe Jones (Democratic), Monika Johnson-Hostler (Democratic), Cody Huneycutt (Republican), Pricey Harrison (Democratic), Allison A. Dahle (Democratic), Mike Colvin (Democratic), Tracy Clark (Democratic), Todd Carver (Republican), Hugh Blackwell (Republican), Eric Ager (Democratic), Carson Smith (Republican), Diane Wheatley (Republican), Harry Warren (Republican), Jeffrey C. McNeely (Republican), Jarrod Lowery (Republican), and Neal Jackson (Republican).
What is the current status of HB 79?
This bill is in committee in the House. Introduced February 10, 2025. It must pass committee before a floor vote.
Where can I track HB 79?
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