More About New York’s Mandatory Retirement Plan And Automatic Enrollment Requirements

Late in 2021, New York State followed the trend of other States that are requiring employers to have an automatic enrollment retirement plan for employees.?Under the law, some businesses are likely to be exempt from the New York State Secure Choice Savings Plan (Secure Choice), for example, because your business is smaller than the required head-count threshold, or you have been offering a retirement plan to your employees.?The rules are being developed by the Secure Choice Board (which had its first meeting late January 2022) for implementation later this year.?To learn more about Secure Choice, please see: https://acsi-ny.com/update-about-new-yorks-mandatory-retirement-plan-and-automatic-enrollment-requirements/.