Employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan to employees must take action to facilitate the RetireReady NJ Retirement Savings Program (“RetireReady NJ”)....more
Most employers with at least 25 employees in New Jersey that do not already offer a qualified retirement plan must soon take action to enroll their employees in the state’s “RetireReady NJ” retirement savings program. This...more
Beginning in 2023, Colorado employees whose employers do not offer a retirement plan will have access to an optional retirement savings plan through a state-facilitated retirement savings program, the Colorado SecureSavings...more
New York State Employers - In October 2021, New York State (“NYS”) passed legislation, Senate Bill S5395A, amending the New York State Secure Choice Savings Program (the “Program”), a retirement savings plan. The...more
The Illinois General Assembly is considering a bill (H.B. 117) that would make several amendments to the Illinois Secure Choice Savings Program Act, including extending the requirement to offer employees a retirement savings...more
As we previously reported, Illinois implemented the Illinois Secure Choice Savings Program (Program), under which private sector workers in Illinois who do not have access to an employer-sponsored retirement plan will be...more
On March 28, 2019 Governor Phil Murphy signed into law the New Jersey Secure Choice Savings Program Act (“Act”) which establishes a state-run retirement program in the form of automatic employee payroll deductions paid into...more
Employers in California should be ready for a big change in the retirement law to take effect over the next three years. This change comes in the form of a new California program called CalSavers (formerly known as Secure...more
Employers in Illinois with at least 25 employees must comply with the Illinois Secure Choice Savings Program Act (Secure Choice) or offer employees an employer-sponsored retirement plan. Secure Choice is set to roll out in...more
On September 29, 2016, California Governor Brown approved significant amendments to the 2012 California Secure Choice Retirement Savings Trust Act ("Secure Choice"). Secure Choice is intended to provide Roth IRAs and...more
On January 5, 2015, outgoing Governor Quinn signed landmark legislation that created the “Secure Choice Savings Plan” which will give Illinois workers who do not have the option to participate in a workplace retirement...more