S.1828

Adjusts qualification threshold for New Jersey Secure Choice Savings Program.

The bill modifies the New Jersey Secure Choice Savings Program by lowering the threshold for required participation from businesses with 25 or more employees to businesses with one or more employees. It removes references to "small employer" in the program's act. Enrollees can select an investment option and contribution level, with the ability to change these options quarterly. Employers are responsible for setting up payroll deposit retirement savings arrangements but can contract third parties to do so. The program will be implemented in two phases, starting with larger employers.