Opinion: The Hidden Financial Threat Facing Utah — and How We Fix It

By Rep. Joseph Elison and Rep. Jason E. Thompson
Guest Opinion, Deseret News
Published February 5, 2026

Utah is one of the strongest economies in the nation, but beneath that strength is a growing challenge we cannot afford to ignore. Between 700,000 and 900,000 working Utahns lack access to an employer-sponsored retirement plan.

HB250 creates the Utah Retirement Plan Exchange, a state-facilitated marketplace where private-sector retirement providers can offer plans to employers in one simplified location. The goal is to make it easier for employers, particularly small and mid-sized businesses, to offer tax-preferred retirement benefits to their employees.

The authors explain how the proposal would expand access to retirement savings while preserving employer and employee choice, relying on private-sector providers and avoiding government mandates.

“The Utah Retirement Plan Exchange is not about replacing the private market. It is about helping it work better for more people.”

Read the full opinion at Deseret News:
Opinion: The Hidden Financial Threat Facing Utah — and How We Fix It

Originally published by Deseret News on February 5, 2026. Written by Rep. Joseph Elison, sponsor of HB250, and Rep. Jason E. Thompson, co-sponsor of the proposed legislation.