Voluntary
Does my Mississippi business have to offer a retirement plan?
Short answer
No. Mississippi doesn’t require employers to offer a retirement plan. A 2026 law created Mississippi Work and Save, a voluntary Roth IRA program that employers without a plan can choose to offer. It has to be up and running by August 1, 2028.
Who must comply
No Mississippi employer is required to offer a plan. Under HB 4073, employers that don't maintain a tax-favored retirement plan, and haven't in the current or two preceding calendar years, may choose to participate.
Deadlines
There are no employer deadlines. The State Treasurer must open the program so individuals can contribute no later than August 1, 2028.
Penalties
There are no state penalties for not offering a retirement plan.
How to get exempt
No exemption is needed because there is no mandate.
Mississippi Work and Save or a 401(k)?
Work and Save accounts will be Roth IRAs by default, so each saver will be held to the IRA limit: $7,500 a year in 2026 and 2027, or $8,600 at 50 or older. A 401(k) lets employees defer $24,500 in 2026 and $25,500 in 2027, plus catch-ups from age 50, and lets you add a match.
Sources
Mississippi Legislature: HB 4073 (2026 Regular Session), as sent to Governor (billstatus.ls.state.ms.us) Mississippi State Treasury: May is Small Business Month (2026-05-01) (treasury.ms.gov) Georgetown University Center for Retirement Initiatives: States: 2026 state program status (as of November 6, 2026) (cri.georgetown.edu) Internal Revenue Service: 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (irs.gov) Internal Revenue Service: COLA increases for dollar limitations on benefits and contributions (irs.gov)
This page is general information, not legal or tax advice. Confirm current rules with the state program before acting.
