to adopt the meeting minutes from March 7, 2024.
Representative Kunse moved to adopt the meeting minutes from March 7, 2024. There being no objection, the motion prevailed by unanimous consent. The Chair laid HB 5461 before the committee: HB 5461 (Rep. McFall) A bill to create the secure retirement savings program to provide retirement savings options for certain employees; to create the secure retirement savings board and prescribe its powers and duties; to provide for the powers and duties of certain governmental officers and entities; to require participation in the program by certain employers; to create the secure retirement savings program fund as a trust fund outside the state treasury consisting of employee retirement accounts; to establish the Michigan secure retirement administrative fund to pay program administrative expenses; to provide for civil fines; and to require the promulgation of rules. Representative McFall, Paula D. Cunningham, representing the American Association of Retired Persons, and John Scott, representing Pew Charitable Trusts, testified in support of HB 5461. Questions and discussion followed. At 9:24 AM, the Chair laid the committee at ease. At 9:27 AM, the Chair called the committee back to order. Johnnie Bellows, representing the Aura Company, testified in support of HB 5461. Delaware State Senator Brian Pettyjohn testified in support of HB 5461. Questions and discussion followed. Caren Lock, representing the Teachers Insurance and Annuity Association of America, testified in support of HB 5461. Questions and discussion followed. Amanda Fisher, representing the National Federation of Independent Business, testified in opposition to HB 5461. Questions and discussion followed. Nathan Glassey, representing the American Retirement Association, testified in support of HB 5461. Questions and discussion followed. Maddie Elliot, representing Michigan's Children, testified in support of HB 5461. The following person submitted a card with a neutral position on HB 5461, but did not wish to speak: Frank Venuto, representing the American Council of Life Insurers. The following people submitted a card in support of HB 5461, but did not wish to speak: Jessica Acmoody, representing the Community Economic Development Association of Michigan. Kevin Heard, representing the Detroit Regional LGBT Chamber of Commerce. Jill Nelson, representing Hot Diggity Dog Walking and Pet Sitting. The following people submitted a card in opposition to HB 5461, but did not wish to speak: Jacob Manning, representing the Small Business Association of Michigan. Amy Drumm, representing the Michigan Retailers Association. Chuck May, representing the National Association of Insurance and Financial Advisors- Michigan. There being no further business before the committee, Chair Haadsma adjourned the meeting at 10:17 AM. Representative Jim Haadsma, Chair Edward Sleeper Committee Clerk esleeper@house.mi.gov