Small Business Retirement Marketplace

Industry: 
Small Business
Rulemaking Status: 
Adopted

The Washington Small Business Retirement Marketplace was signed into law by Governor Inslee on May 18, 2015. The Washington Small Business Retirement Marketplace will be a virtual marketplace operated by the Washington Department of Commerce to promote low-cost retirement savings vehicles to small businesses. The Department of Commerce will approve financial services firms and retirement plans for inclusion on the marketplace provided that either the Washington Department of Financial Institutions has verified that the retirement plan and the financial services firm offering it meet the requirements set forth in RCW 43.330.732(7) and RCW 43.330.735.

The Rule-Making Order (Form CR-103) and the text of the Final Rules are available below.

Please note that the Department of Commerce has also adopted rules to implement the Marketplace. For more information, please visit the Department of Commerce’s website at www.commerce.wa.gov/about/PoliciesandInitiatives/Pages/marketplace.aspx.

If you have any questions regarding DFI’s rulemaking, please contact Jill Vallely by telephone at (360) 902-8801 or by e-mail at jill.vallely@dfi.wa.gov.