The Kansas Empowerment Savings Program Act establishes a new retirement savings initiative designed to enhance retirement savings for private sector employees in Kansas. The program will be overseen by the Kansas Empowerment Savings Program Board of Trustees, which will consist of seven voting members, including representatives from the state treasurer's office and the public employees retirement system, as well as appointed members with expertise in investment or retirement savings. Eligible employees will be automatically enrolled in the program, contributing a default rate of 5% of their wages, with options for varying contribution levels. The board is responsible for maintaining the program, adopting rules, and ensuring compliance with federal regulations.

The act outlines the board's powers, including establishing investment options and setting fees, while clarifying that the state will not be liable for any retirement savings benefits accrued under the program. Participating employers will not have fiduciary responsibilities or liabilities related to the program's administration or investment decisions. The bill mandates the creation of informational packets for employers and employees, detailing program risks and contribution instructions, and requires the board to maintain a public website for program information. Additionally, a dedicated fund for the program will be managed by the state treasurer, with provisions for confidentiality of account information and annual reporting on program activities. The act is set to take effect on July 1, 2027, with employee eligibility beginning on January 1, 2028.