Minnesota Secure Choice Retirement Program introduces penalties for noncompliance by employers.

The bill adds penalties for noncompliance with the Minnesota Secure Choice Retirement Program. Employers failing to enroll employees or remit contributions face escalating fines, starting at $100 per employee and increasing annually. Employers can also face criminal charges for willful noncompliance. The penalties aim to ensure compliance with the retirement program, protecting employee benefits.

Minnesota Secure Choice Retirement Program introduces penalties for noncompliance by employers.

The bill adds penalties for noncompliance with the Minnesota Secure Choice Retirement Program. Employers failing to enroll employees or remit contributions face escalating fines, starting at $100 per employee and increasing annually. Employers can also face criminal charges for willful noncompliance. The penalties aim to ensure compliance with the retirement program, protecting employee benefits.