Senate Bill 1035
A retirement plan marketplace, granting rule-making authority, and making an appropriation. (FE)
Stopped in committee
It never got a , so it never came up for a vote. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 19, 2024
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Committee, stopped here
Stopped here. No public hearing was held.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Apr 15, 2024: “Failed to pass pursuant to ”
It never got a hearing in the Senate Committee on Financial Institutions and Sporting Heritage. See every bill that never got a hearing this session.
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
This bill requires the Department of Financial Institutions to establish and manage a retirement plan marketplace to connect individuals who are residents of this state (eligible individuals) and employers that have fewer than 100 employees and that employ at least one individual who is a resident of this state (small employers) with retirement plans offered by private financial services firms, to improve access to retirement income options for eligible individuals, to encourage eligible individuals to plan for retirement and increase retirement savings, and to remove barriers to entry for small employers to offer retirement plan options to employees. Under the bill, DFI must contract with a vendor to create a website to host the marketplace.
The bill provides that a financial services firm that wants to offer retirement plans on the marketplace may apply to DFI, and DFI may approve the firm to participate if the firm offers high quality retirement plans that comply with the federal Employee Retirement Income Security Act of 1974, commonly called ERISA.
Read the full summary Show less
For each firm approved to participate in the marketplace, DFI must specify the retirement plans the firm may offer on the marketplace. The bill requires DFI to ensure that the marketplace offers only ERISA compliant retirement plans with reasonable fees and offers a range of retirement plans and investment options, including retirement plans for investors with various levels of risk tolerance and of various ages and retirement plans that are environmentally friendly and socially responsible. The bill limits the administrative fees a firm may charge a participant enrolled in a retirement plan offered on the marketplace to no more than 100 basis points in total annual fees.
Under the bill, DFI must, in cooperation with the Department of Revenue, the Department of Workforce Development, and other state agencies, develop a marketing program to publicize and promote the marketplace to small employers and eligible individuals.
Who's behind it
4 senators are its . All 4 are Democrats.
17 more lawmakers .
See all 21 names Hide the names
Authors (4)
- Melissa Agard · Democrat, Senate
- Kelda Roys · Democrat, Senate
- Mark Spreitzer · Democrat, Senate
- Bob Wirch · Democrat, Senate
Signed on in support (17)
- Samba Baldeh · Democrat, Assembly
- Mike Bare · Democrat, Assembly
- Clint Anderson · Democrat, Assembly
- Sue Conley · Democrat, Assembly
- Dora Drake · Democrat, Senate
- Jodi Emerson · Democrat, Assembly
- Francesca Hong · Democrat, Assembly
- Jimmy Anderson · Democrat, Assembly
- Jenna Jacobson · Democrat, Assembly
- Alex Joers · Democrat, Assembly
- Darrin Madison · Democrat, Assembly
- Supreme Moore Omokunde · Democrat, Assembly
- Tod Ohnstad · Democrat, Assembly
- Melissa Ratcliff · Democrat, Senate
- Katrina Shankland · Democrat, Assembly
- Christine Sinicki · Democrat, Assembly
- Lisa Subeck · Democrat, Assembly
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
What happened
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Apr 15, 2024
The session ended, and the bill died with it.
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Apr 3, 2024
1 more representative signed on in support.
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Apr 2, 2024
A state agency sent in its estimate of the cost.
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Mar 14, 2024
A state agency sent in its estimate of the cost.
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Feb 22, 2024
A state agency sent in its estimate of the cost.
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Feb 19, 2024
Sent to the Senate Committee on Financial Institutions and Sporting Heritage.
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Feb 19, 2024
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 19, 2024 · Senate
Introduced by Senators Agard, Wirch, Spreitzer and Roys; cosponsored by Representatives Drake, Ratcliff, Joers, Baldeh, Jacobson, Shankland, Subeck, C. Anderson, Emerson, Conley, Sinicki, Moore Omokunde, Hong, J. Anderson, Bare and Ohnstad
- Feb 19, 2024 · Senate
Read first time and referred to Committee on Financial Institutions and Sporting Heritage
- Feb 22, 2024 · Senate
Fiscal estimate received
- Mar 14, 2024 · Senate
Fiscal estimate received
- Apr 2, 2024 · Senate
Fiscal estimate received
- Apr 3, 2024 · Senate
Representative Madison added as a cosponsor
- Apr 15, 2024 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate