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Senate committee advances Minnesota Secure Choice penalties, seeks employer data from DEED
Summary
The Senate Judiciary Committee advanced two Secure Choice bills that set penalties for employer noncompliance and authorize state access to employer data to identify firms already offering retirement plans.
Senator Pappas introduced two bills on Minnesota's state-facilitated retirement program, the Minnesota Secure Choice, explaining the measures would set enforcement penalties and allow the program to obtain employer identifiers from the Department of Employment and Economic Development (DEED).
The committee heard detailed explanation from Dave Bergstrom, interim executive director of the Minnesota Secure Choice Program, who described the penalty schedule and the program's operations. Bergstrom said penalties are intended to encourage enrollment and that other states' programs use similar penalties. He described a graduated penalty scheme that starts only after about two years of outreach and includes a $100-per-employee penalty (capped at $4,000) after certified notice if an employer fails to enroll; penalties rise if noncompliance continues. For withheld payroll deductions, Bergstrom…
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