Assembly Bill A8332F

2015-2016 Legislative Session

Relates to enacting the New York state secure choice savings program act

download bill text pdf

Sponsored By

Archive: Last Bill Status - On Floor Calendar


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

Bill Amendments

2015-A8332 - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332 - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8332

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
  Committee on Governmental Employees

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law, in relation to enacting the New York state secure choice
  savings program act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:
                              ARTICLE 14-C
              NEW YORK STATE SECURE CHOICE SAVINGS PROGRAM
SECTION 570. DEFINITIONS.
        571. PROGRAM ESTABLISHED.
        572. COMPOSITION OF THE BOARD.
        573. FIDUCIARY DUTY.
        574. DUTIES OF THE BOARD.
        575. RISK MANAGEMENT.
        576. INVESTMENT FIRMS.
        577. INVESTMENT OPTIONS.
        578. BENEFITS.
        579. EMPLOYER AND EMPLOYEE INFORMATION  PACKETS  AND  DISCLOSURE
               FORMS.
        580. PROGRAM IMPLEMENTATION AND ENROLLMENT.
        581. PAYMENTS.
        582. DUTY AND LIABILITY OF THE STATE.
        583. DUTY AND LIABILITY OF PARTICIPATING EMPLOYERS.
        584. AUDIT AND REPORTS.
        585. PENALTIES.
        586. DELAYED IMPLEMENTATION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-01-5
              

co-Sponsors

multi-Sponsors

2015-A8332A - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332A - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332A - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
  Committee on Governmental  Employees  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law, in relation to enacting the New York state secure choice
  savings program act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:
                              ARTICLE 14-C
              NEW YORK STATE SECURE CHOICE SAVINGS PROGRAM
SECTION 570. DEFINITIONS.
        571. PROGRAM ESTABLISHED.
        572. COMPOSITION OF THE BOARD.
        573. FIDUCIARY DUTY.
        574. DUTIES OF THE BOARD.
        575. RISK MANAGEMENT.
        576. INVESTMENT FIRMS.
        577. INVESTMENT OPTIONS.
        578. BENEFITS.
        579. EMPLOYER AND EMPLOYEE INFORMATION  PACKETS  AND  DISCLOSURE
               FORMS.
        580. PROGRAM IMPLEMENTATION AND ENROLLMENT.
        581. PAYMENTS.
        582. DUTY AND LIABILITY OF THE STATE.
        583. DUTY AND LIABILITY OF PARTICIPATING EMPLOYERS.
        584. AUDIT AND REPORTS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-02-5
              

co-Sponsors

multi-Sponsors

2015-A8332B - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332B - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332B - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--B

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M. of A. RODRIGUEZ, COOK, MONTESANO, SEPULVEDA, RICHARD-
  SON, MAYER,  ROBINSON,  SOLAGES,  DILAN,  PRETLOW,  PICHARDO,  RIVERA,
  BLAKE,  O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA,
  JOYNER, FARRELL, DenDEKKER, HOOPER, LINARES, WALKER, GOTTFRIED, AUBRY,
  SANTABARBARA, GUNTHER, PERRY, LUPARDO, HUNTER, BICHOTTE -- Multi-Spon-
  sored by -- M. of A. BUCHWALD, CURRAN,  ENGLEBRIGHT,  GLICK,  HYNDMAN,
  LOPEZ, McDONOUGH, McLAUGHLIN, RA, SIMANOWITZ, SKARTADOS, STECK, THIELE
  --  read  once and referred to the Committee on Governmental Employees
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and  recommitted  to said committee -- recommitted to the Committee on
  Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law, in relation to enacting the New York state secure choice
  savings program act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:
                              ARTICLE 14-C
              NEW YORK STATE SECURE CHOICE SAVINGS PROGRAM
SECTION 570. DEFINITIONS.
        571. PROGRAM ESTABLISHED.
        572. COMPOSITION OF THE BOARD.
        573. FIDUCIARY DUTY.
        574. DUTIES OF THE BOARD.
        575. RISK MANAGEMENT.
        576. INVESTMENT FIRMS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-04-6
              

co-Sponsors

multi-Sponsors

2015-A8332C - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332C - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332C - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--C

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M. of A. RODRIGUEZ, COOK, MONTESANO, SEPULVEDA, RICHARD-
  SON, MAYER,  ROBINSON,  SOLAGES,  DILAN,  PRETLOW,  PICHARDO,  RIVERA,
  BLAKE,  O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA,
  JOYNER, FARRELL, DenDEKKER, HOOPER, LINARES, WALKER, GOTTFRIED, AUBRY,
  SANTABARBARA,  GUNTHER,  PERRY,  LUPARDO,  HUNTER,  BICHOTTE,  CRESPO,
  HARRIS,  JEAN-PIERRE,  BRAUNSTEIN  --  Multi-Sponsored  by -- M. of A.
  BRENNAN, BUCHWALD, CERETTO, CROUCH, CURRAN, ENGLEBRIGHT, GLICK,  HYND-
  MAN,  LENTOL, LOPEZ, McDONOUGH, McLAUGHLIN, RA, SIMANOWITZ, SKARTADOS,
  STECK, THIELE -- read once and referred to the  Committee  on  Govern-
  mental  Employees  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee --  recommitted
  to the Committee on Governmental Employees in accordance with Assembly
  Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended  and  recommitted  to  said  committee  --  again
  reported  from  said  committee  with amendments, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law, in relation to enacting the New York state secure choice
  savings program act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:
                              ARTICLE 14-C
              NEW YORK STATE SECURE CHOICE SAVINGS PROGRAM
SECTION 570. DEFINITIONS.
        571. PROGRAM ESTABLISHED.
        572. COMPOSITION OF THE BOARD.
        573. FIDUCIARY DUTY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-06-6
              

co-Sponsors

multi-Sponsors

2015-A8332D - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332D - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332D - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--D

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M. of A. RODRIGUEZ, COOK, MONTESANO, SEPULVEDA, RICHARD-
  SON, MAYER,  ROBINSON,  SOLAGES,  DILAN,  PRETLOW,  PICHARDO,  RIVERA,
  BLAKE,  O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA,
  JOYNER, FARRELL, DenDEKKER, HOOPER, LINARES, WALKER, GOTTFRIED, AUBRY,
  SANTABARBARA,  GUNTHER,  PERRY,  LUPARDO,  HUNTER,  BICHOTTE,  CRESPO,
  HARRIS,  JEAN-PIERRE,  BRAUNSTEIN,  LAVINE, HEVESI, DINOWITZ, RUSSELL,
  BRINDISI, BARRON, MOSLEY, STIRPE, FAHY, CASTORINA, RAIA, ROSENTHAL  --
  Multi-Sponsored  by  --  M.  of A. BRENNAN, BUCHWALD, CERETTO, CROUCH,
  CURRAN, ENGLEBRIGHT, GLICK, HYNDMAN, KEARNS, LENTOL, LOPEZ, McDONOUGH,
  McLAUGHLIN, RA, SIMANOWITZ, SKARTADOS, STECK, THIELE -- read once  and
  referred  to  the  Committee  on  Governmental  Employees -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee -- recommitted  to  the  Committee  on  Governmental
  Employees  in  accordance  with  Assembly  Rule 3, sec. 2 -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee -- again reported from said  committee  with  amend-
  ments,  ordered reprinted as amended and recommitted to said committee
  --  again  reported  from  said  committee  with  amendments,  ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the retirement and social security law and the state
  finance law, in relation to enacting the New York state secure  choice
  savings program act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known and may  be  cited  as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:
                              ARTICLE 14-C
              NEW YORK STATE SECURE CHOICE SAVINGS PROGRAM
SECTION 570. DEFINITIONS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-14-6
              

co-Sponsors

multi-Sponsors

2015-A8332E - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332E - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332E - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--E

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M. of A. RODRIGUEZ, COOK, MONTESANO, SEPULVEDA, RICHARD-
  SON, MAYER,  ROBINSON,  SOLAGES,  DILAN,  PRETLOW,  PICHARDO,  RIVERA,
  BLAKE,  O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA,
  JOYNER, FARRELL, DenDEKKER, HOOPER, LINARES, WALKER, GOTTFRIED, AUBRY,
  SANTABARBARA,  GUNTHER,  PERRY,  LUPARDO,  HUNTER,  BICHOTTE,  CRESPO,
  HARRIS,  JEAN-PIERRE,  BRAUNSTEIN,  LAVINE, HEVESI, DINOWITZ, RUSSELL,
  BRINDISI, BARRON, MOSLEY, STIRPE, FAHY,  CASTORINA,  RAIA,  ROSENTHAL,
  SKOUFIS  -- Multi-Sponsored by -- M. of A. BRENNAN, BUCHWALD, CERETTO,
  CROUCH, CURRAN, ENGLEBRIGHT, GLICK, HYNDMAN,  KEARNS,  LENTOL,  LOPEZ,
  LUPINACCI,  McDONOUGH,  McLAUGHLIN,  RA, SIMANOWITZ, SKARTADOS, STECK,
  THIELE -- read once and referred  to  the  Committee  on  Governmental
  Employees  -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted  to  said  committee  --  recommitted  to  the
  Committee  on  Governmental Employees in accordance with Assembly Rule
  3, sec. 2 -- committee discharged, bill amended, ordered reprinted  as
  amended  and recommitted to said committee -- again reported from said
  committee with amendments, ordered reprinted as amended and  recommit-
  ted  to  said  committee  --  again  reported from said committee with
  amendments, ordered reprinted  as  amended  and  recommitted  to  said
  committee  --  again  reported  from  said  committee with amendments,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law, in relation to enacting the New York state secure choice
  savings program act

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state secure choice savings program act".
  S 2. The retirement and social security law is amended by adding a new
article 14-C to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-15-6

              

co-Sponsors

multi-Sponsors

2015-A8332F (ACTIVE) - Details

See Senate Version of this Bill:
S6045
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 586, R & SS L; add §§99-aa & 99-bb, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
A4982, S4344

2015-A8332F (ACTIVE) - Summary

Creates a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees in a convenient, low-cost, and transferable manner.

2015-A8332F (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 8332--F

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             August 5, 2015
                               ___________

Introduced  by  M. of A. RODRIGUEZ, COOK, MONTESANO, SEPULVEDA, RICHARD-
  SON, MAYER,  ROBINSON,  SOLAGES,  DILAN,  PRETLOW,  PICHARDO,  RIVERA,
  BLAKE,  O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA,
  JOYNER, FARRELL, DenDEKKER, HOOPER, LINARES, WALKER, GOTTFRIED, AUBRY,
  SANTABARBARA,  GUNTHER,  PERRY,  LUPARDO,  HUNTER,  BICHOTTE,  CRESPO,
  HARRIS,  JEAN-PIERRE,  BRAUNSTEIN,  LAVINE, HEVESI, DINOWITZ, RUSSELL,
  BRINDISI, BARRON, MOSLEY, STIRPE, FAHY,  CASTORINA,  RAIA,  ROSENTHAL,
  SKOUFIS,   LIFTON,   WRIGHT,  WEPRIN,  RAMOS,  ORTIZ,  QUART,  CANCEL,
  SEAWRIGHT, SCHIMEL, GALEF,  SIMOTAS,  RYAN,  BRONSON,  PEOPLES-STOKES,
  TITUS  --  Multi-Sponsored by -- M. of A.  BRENNAN, BUCHWALD, CERETTO,
  CROUCH, CURRAN, ENGLEBRIGHT, GLICK, HYNDMAN,  KEARNS,  LENTOL,  LOPEZ,
  LUPINACCI,  MARKEY,  McDONOUGH, McLAUGHLIN, RA, SIMANOWITZ, SKARTADOS,
  STECK, THIELE -- read once and referred to the  Committee  on  Govern-
  mental  Employees  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee --  recommitted
  to the Committee on Governmental Employees in accordance with Assembly
  Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended  and  recommitted  to  said  committee  --  again
  reported  from  said  committee  with amendments, ordered reprinted as
  amended and recommitted to said committee -- again reported from  said
  committee  with amendments, ordered reprinted as amended and recommit-
  ted to said committee --  again  reported  from  said  committee  with
  amendments,  ordered  reprinted  as  amended  and  recommitted to said
  committee -- again  reported  from  said  committee  with  amendments,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the retirement and social security law and the state
  finance law, in relation to enacting the New York state secure  choice
  savings program act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11645-17-6

A. 8332--F                          2
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.