HR 4924
Auto Reenroll Act of 2023
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Auto Reenroll Act of 2023 aims to encourage more employees to participate in retirement savings plans. It allows employers offering ‘automatic contribution arrangements’ to periodically re-enroll employees in these plans, typically every three years. The bill modifies tax and retirement security laws to ensure that employees are automatically re-enrolled if they previously opted out, and it clarifies how these arrangements are treated for tax purposes. This is intended to boost retirement savings rates across the country.
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Primary sponsor
Kathy E. Manning
Cosponsors
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