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Utah's State Treasurer's Office would be directed to build and operate a free, publicly accessible online marketplace — launching by January 2027 — where private employers in the state can browse, compare, and select retirement plans for their workers, limited to two types of automatic-enrollment plans: payroll-deduction individual retirement accounts and 401(k) plans. The exchange would display each plan's fees, investment options, performance data, and enrollment and withdrawal processes in a standardized, comparable format, and would also include educational resources for employers and employees and outreach efforts aimed at small businesses. Retirement plan companies wanting to be listed would have to apply, meet state and federal legal standards, consent to monitoring, and submit annual reports to the treasurer's office — which are protected from public disclosure — and the office could remove or suspend providers that charge excessive fees, mismanage assets, provide false information, or otherwise violate the law; the office may temporarily limit the number of providers listed during the exchange's first two years and may contract with an outside company to run the platform, though not with a plan provider itself. The bill also specifies that the state would not take on fiduciary responsibility, act as an investment adviser, or endorse any specific plan, and participation in the exchange would remain voluntary for both employers and employees.