SB2517: Auto Reenroll Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to allow for periodic automatic reenrollment under qualified automatic contribution arrangements, and for other purposes.
Plain-language summary
This bill would change rules for automatic enrollment in workplace retirement plans, specifically allowing employers to automatically re-enroll employees into retirement savings at regular intervals. Currently, employers can automatically enroll new employees in retirement plans, but this bill would expand that to include periodic automatic re-enrollment of existing employees. The bill modifies two major federal laws: the Internal Revenue Code and the Employee Retirement Income Security Act, which govern retirement plans and taxes. The bill is in the early stage of being introduced to Congress and has not yet been assigned to a .
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SB2517: Auto Reenroll Act of 2023