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Panel advances bill to expand Retire Ready NJ registration to nearly all employers
Summary
The committee released A5358 to lower the employer threshold for New Jersey’s Secure Choice (Retire Ready New Jersey) from 25 employees to 1, requiring more employers without workplace plans to register and facilitate payroll deductions; AARP testified in strong support and business groups expressed concerns about burden on small employers.
The committee released A5358, which would lower the registration threshold for New Jersey’s Secure Choice savings program (now marketed as Retire Ready New Jersey) from employers with 25 or more employees to employers with one or more employees who do not offer a retirement plan.
Evelyn Liebman, director of…
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