{"id":2542,"date":"2026-06-17T11:04:56","date_gmt":"2026-06-17T15:04:56","guid":{"rendered":"https:\/\/senatedems.com\/cherry\/?p=2542"},"modified":"2026-06-17T11:05:00","modified_gmt":"2026-06-17T15:05:00","slug":"senate-dems-pass-bills-to-expand-access-to-retirement-savings-accounts-for-all-michiganders","status":"publish","type":"post","link":"https:\/\/senatedems.com\/cherry\/2026\/06\/17\/senate-dems-pass-bills-to-expand-access-to-retirement-savings-accounts-for-all-michiganders\/","title":{"rendered":"Senate\u00a0Dems\u00a0Pass\u00a0Bills\u00a0to Expand Access to Retirement Savings Accounts for All Michiganders"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<p style=\"text-align: center;\"><i>Legislation would offer\u00a0future\u00a0financial security to <\/i><span data-ogsc=\"rgb(5, 99, 193)\"><a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.pew.org%2Fen%2Fresearch-and-analysis%2Ffact-sheets%2F2023%2F12%2Fmichigan-retirement-program-would-help-1-5-million-workers-access-a-secure-financial-future%23%3A~%3Atext%3D1.5%2520million%2520workers%25E2%2580%259442%2525%2520of%2520Michigan%25E2%2580%2599s%2520private-sector%2520workforce%25E2%2580%2594don%25E2%2580%2599t%2520have%2520access%2520to%2520retirement%2520savings%2520through%2520their%2520jobs.&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299462146%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=9mAEYZMzg%2B574GDs1fbaJkVtBqI5JOX8LJZTHDMyDYU%3D&amp;reserved=0\" originalsrc=\"https:\/\/www.pew.org\/en\/research-and-analysis\/fact-sheets\/2023\/12\/michigan-retirement-program-would-help-1-5-million-workers-access-a-secure-financial-future#:~:text=1.5%20million%20workers%E2%80%9442%25%20of%20Michigan%E2%80%99s%20private-sector%20workforce%E2%80%94don%E2%80%99t%20have%20access%20to%20retirement%20savings%20through%20their%20jobs.\" target=\"_blank\" id=\"OWA291c8578-3fda-f905-4721-5e12016d3a4c\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(5, 99, 193)\" title=\"Original URL: https:\/\/www.pew.org\/en\/research-and-analysis\/fact-sheets\/2023\/12\/michigan-retirement-program-would-help-1-5-million-workers-access-a-secure-financial-future#:~:text=1.5%20million%20workers%E2%80%9442%25%20of%20Michigan%E2%80%99s%20private-sector%20workforce%E2%80%94don%E2%80%99t%20have%20access%20to%20retirement%20savings%20through%20their%20jobs. Click to follow link.\" data-outlook-id=\"713cff17-26b1-4e59-a799-0260157ab6aa\"><i><u>roughly 1.5 million Michiganders<\/u><\/i><\/a><\/span><i>\u00a0without access to\u00a0a\u00a0workplace\u00a0retirement\u00a0savings\u00a0plan<\/i><span>\u00a0<\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<p><span>LANSING, Mich.\u00a0(June\u00a017,\u00a02026) \u2014\u00a0Today,\u00a0the Michigan Senate passed\u00a0legislation\u00a0sponsored\u00a0by Sens. <\/span><b>John Cherry<\/b><span>\u00a0(D-Flint)\u00a0and <\/span><b>Mary Cavanagh<\/b><span>\u00a0(D-Redford Twp.)\u00a0to\u00a0ensure Michiganders can\u00a0access a retirement savings account\u00a0if they are not offered a plan with their current employer. <\/span><\/p>\n<p><span>\u201cAfter a lifetime of hard work, Michiganders deserve the opportunity to retire with dignity and financial security,\u201d said Sen. <b>Cherry<\/b>. \u201cBy helping more than 1.5 million workers save for the future, this legislation would reduce senior poverty, help small businesses stay competitive, and strengthen our state\u2019s long-term economic stability. Most importantly, it will\u00a0give more people financial security\u00a0as they age.\u201d\u00a0<\/span><\/p>\n<p><span>Under the\u00a0MI Secure Retirement Savings program,\u00a0which would be\u00a0established\u00a0by Senate Bill <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.legislature.mi.gov%2FBills%2FBill%3FObjectName%3D2026-SB-0807&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299480264%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=z7t3vN%2BAdO%2BRMRSfS3uvYCyXkRmmPluye%2BlmXybab8Y%3D&amp;reserved=0\" originalsrc=\"https:\/\/www.legislature.mi.gov\/Bills\/Bill?ObjectName=2026-SB-0807\" target=\"_blank\" id=\"OWA720e7db6-1d57-4a26-9429-fd33356d8037\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(5, 99, 193)\" title=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.legislature.mi.gov%2FBills%2FBill%3FObjectName%3D2026-SB-0807&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299480264%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=z7t3vN%2BAdO%2BRMRSfS3uvYCyXkRmmPluye%2BlmXybab8Y%3D&amp;reserved=0\" data-outlook-id=\"d94ed8be-a3b0-4257-a318-d3f1472ae453\"><u>807<\/u><\/a>, employees who are not currently offered a retirement savings plan through their current employer would be automatically enrolled in a state-run Roth IRA\u00a0\u2014\u00a0similar to\u00a0programs <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.pew.org%2Fen%2Fresearch-and-analysis%2Farticles%2F2026%2F02%2F04%2Fstatus-of-state-auto-ira-savings-programs%23%3A~%3Atext%3DIn%2520early%25202026%252C%252015%2520states%2520had%2520active%2520auto-IRA%2520programs&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299491224%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=zgMVqhVGaMcFtBTIlEQhma1xUcDPwpp%2BZmZLxk6fF7Q%3D&amp;reserved=0\" originalsrc=\"https:\/\/www.pew.org\/en\/research-and-analysis\/articles\/2026\/02\/04\/status-of-state-auto-ira-savings-programs#:~:text=In%20early%202026%2C%2015%20states%20had%20active%20auto-IRA%20programs\" target=\"_blank\" id=\"OWA4d0edb79-d17b-8e74-3627-feee1389ec8e\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(5, 99, 193)\" title=\"Original URL: https:\/\/www.pew.org\/en\/research-and-analysis\/articles\/2026\/02\/04\/status-of-state-auto-ira-savings-programs#:~:text=In%20early%202026%2C%2015%20states%20had%20active%20auto-IRA%20programs Click to follow link.\" data-outlook-id=\"50ffc405-15a9-4de6-8aff-3109103693a2\"><u>currently offered by\u00a015 other states<\/u><\/a>.\u00a0Employees would have the\u00a0option\u00a0to opt out.\u00a0Senate Bill <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.legislature.mi.gov%2FBills%2FBill%3FObjectName%3D2026-SB-0808&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299500540%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=i%2FFz%2FLsqvrKNaHGF73sWGGmblbQPN%2BZXEsU2ESID1M4%3D&amp;reserved=0\" originalsrc=\"https:\/\/www.legislature.mi.gov\/Bills\/Bill?ObjectName=2026-SB-0808\" target=\"_blank\" id=\"OWA00da6798-3413-4e22-62d6-c21ce3475e66\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(5, 99, 193)\" title=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.legislature.mi.gov%2FBills%2FBill%3FObjectName%3D2026-SB-0808&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299500540%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=i%2FFz%2FLsqvrKNaHGF73sWGGmblbQPN%2BZXEsU2ESID1M4%3D&amp;reserved=0\" data-outlook-id=\"9a80682a-8979-4685-8cb3-84f83ecd9c27\"><u>808<\/u><\/a>\u00a0would\u00a0establish\u00a0a board within the Michigan Dept. of Treasury to oversee the development and administration of the program.\u00a0<\/span><\/p>\n<p><span>\u201cFar too many people work tirelessly\u00a0their entire lives\u00a0only to find themselves without\u00a0the\u00a0savings\u00a0needed\u00a0to\u00a0retire with the dignity and peace of mind they\u2019ve earned,\u201d said Sen. <b>Cavanagh<\/b>. \u201cOur legislation would not only\u00a0empower\u00a01.5 million Michigan workers\u00a0to\u00a0plan and\u00a0save for their futures\u00a0\u2014 it would also\u00a0strengthen our economy, reduce\u00a0reliance\u00a0on public assistance, and\u00a0empower seniors to age with independence and financial security.\u201d\u00a0<\/span><\/p>\n<p><span>Senate Democrats made\u00a0eliminating\u00a0the retirement tax one of their first orders of business in the\u00a0majority and\u00a0have continued fighting to expand retirement options and financial security for all Michiganders.\u00a0This legislation is part of Michigan Senate Democrats\u2019 broader <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsenatedems.com%2Faffordability%2F&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299509567%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=dB3wZF6MVTxSVNd1Pk5JJ2xUzqesruEX%2FwwWlLJSpJ8%3D&amp;reserved=0\" originalsrc=\"https:\/\/senatedems.com\/affordability\/\" target=\"_blank\" id=\"OWAe09e36d3-f7c5-be9d-47a7-b4eea16f47ee\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(0, 114, 218)\" title=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsenatedems.com%2Faffordability%2F&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299509567%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=dB3wZF6MVTxSVNd1Pk5JJ2xUzqesruEX%2FwwWlLJSpJ8%3D&amp;reserved=0\" data-outlook-id=\"f4112d50-3598-4403-a7f3-99dc9048c1bf\"><u>A Michigan You Can Afford<\/u><\/a>\u00a0agenda. The proposal includes plans to make groceries, gas, and\u00a0other\u00a0household needs more affordable, <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsenatedems.com%2Fhertel%2F2026%2F04%2F16%2Fenergy-committee%2F&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299518844%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=D4GIC%2Fnl64%2B%2B7GkRZkBz%2F3S%2FR%2FDsKdd2gIHcWZ25oQE%3D&amp;reserved=0\" originalsrc=\"https:\/\/senatedems.com\/hertel\/2026\/04\/16\/energy-committee\/\" target=\"_blank\" id=\"OWAf00b19f7-e5b8-913c-5cd8-54e070c92a4f\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(0, 114, 218)\" title=\"Original URL: https:\/\/senatedems.com\/hertel\/2026\/04\/16\/energy-committee\/ Click to follow link.\" data-outlook-id=\"6ff794a6-01a3-4fd4-b483-7d5b36a445a4\"><u>cut utility bills<\/u><\/a>, <a href=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsenatedems.com%2Fhertel%2F2026%2F04%2F24%2Flower-health-care-costs%2F&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299527875%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=%2FLyy3gbYylYXY42vedpbhOJoxOE4sHaw3VaHkM0ziMI%3D&amp;reserved=0\" originalsrc=\"https:\/\/senatedems.com\/hertel\/2026\/04\/24\/lower-health-care-costs\/\" target=\"_blank\" id=\"OWA3f75eb0e-ef31-e3eb-9c76-8bbc3469d2a5\" class=\"Hyperlink SCXW34589067 BCX0 OWAAutoLink\" rel=\"noreferrer noopener\" data-ogsc=\"rgb(0, 114, 218)\" title=\"https:\/\/nam11.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsenatedems.com%2Fhertel%2F2026%2F04%2F24%2Flower-health-care-costs%2F&amp;data=05%7C02%7CJLindsay%40senate.michigan.gov%7Cdd301bb4ba614661646408decc80b121%7C78e3c702d3a14260a3a77ffc88b9b8f7%7C0%7C0%7C639173050299527875%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=%2FLyy3gbYylYXY42vedpbhOJoxOE4sHaw3VaHkM0ziMI%3D&amp;reserved=0\" data-outlook-id=\"443ebe15-a047-4735-bb7a-fb06953421f0\"><u>lower healthcare costs<\/u><\/a>, and more.\u00a0The bills\u00a0now\u00a0head\u00a0to the House for consideration.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><span>###<\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>Legislation would offer\u00a0future\u00a0financial security to roughly 1.5 million Michiganders\u00a0without access to\u00a0a\u00a0workplace\u00a0retirement\u00a0savings\u00a0plan\u00a0LANSING, Mich.\u00a0(June\u00a017,\u00a02026) \u2014\u00a0Today,\u00a0the Michigan Senate passed\u00a0legislation\u00a0sponsored\u00a0by Sens. John Cherry\u00a0(D-Flint)\u00a0and Mary Cavanagh\u00a0(D-Redford Twp.)\u00a0to\u00a0ensure Michiganders can\u00a0access a retirement savings account\u00a0if they are [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":2443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","twitterCardType":"","cardImageID":0,"cardImage":"","cardTitle":"","cardDesc":"","cardImageAlt":"","cardPlayer":"","cardPlayerWidth":0,"cardPlayerHeight":0,"cardPlayerStream":"","cardPlayerCodec":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-2542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Senate\u00a0Dems\u00a0Pass\u00a0Bills\u00a0to Expand Access to Retirement Savings Accounts for All Michiganders - 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