Rhode Island H7475 amends the Rhode Island Secure Choice Retirement Savings Program Act for continued administration and inter-state partnership.

Rhode Island H7475 makes technical amendments to the Rhode Island Secure Choice Retirement Savings Program Act. The bill exempts employers with qualified retirement plans from the RISavers program. It mandates education, counseling, and advice for participants and limits investment options to reflect different risk profiles. Employers with over 50 employees must establish payroll deposit arrangements within 36 months. Eligible employees are automatically enrolled unless they opt out.

Rhode Island H7475 amends the Rhode Island Secure Choice Retirement Savings Program Act for continued administration and inter-state partnership.

Rhode Island H7475 makes technical amendments to the Rhode Island Secure Choice Retirement Savings Program Act. The bill exempts employers with qualified retirement plans from the RISavers program. It mandates education, counseling, and advice for participants and limits investment options to reflect different risk profiles. Employers with over 50 employees must establish payroll deposit arrangements within 36 months. Eligible employees are automatically enrolled unless they opt out.