Assembly Bill A4982B

2017-2018 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • 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

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Actions

Bill Amendments

co-Sponsors

multi-Sponsors

2017-A4982 - Details

See Senate Version of this Bill:
S4344
Current Committee:
Assembly Ways And Means
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 585, R & SS L; add §§99-bb & 99-cc, St Fin L
Versions Introduced in 2015-2016 Legislative Session:
A8332, S6045

2017-A4982 - 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.

2017-A4982 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4982
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2017
                                ___________
 
 Introduced  by  M. of A. RODRIGUEZ, LUPARDO, COOK, MONTESANO, SEPULVEDA,
   RICHARDSON, MAYER, SOLAGES, DILAN, PRETLOW, PICHARDO,  RIVERA,  BLAKE,
   O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA, JOYNER,
   FARRELL, HOOPER, DenDEKKER, WALKER,  GOTTFRIED,  AUBRY,  SANTABARBARA,
   GUNTHER,  PERRY, HUNTER, BICHOTTE, CRESPO, HARRIS, JEAN-PIERRE, BRAUN-
   STEIN, LAVINE, HEVESI,  DINOWITZ,  JENNE,  BRINDISI,  BARRON,  MOSLEY,
   STIRPE,  FAHY,  CASTORINA,  RAIA,  ROSENTHAL, SKOUFIS, LIFTON, WEPRIN,
   RAMOS,  ORTIZ,  QUART,  GALEF,  SEAWRIGHT,  SIMOTAS,  RYAN,   BRONSON,
   PEOPLES-STOKES, TITUS, KIM, KAVANAGH, WILLIAMS, COLTON, MOYA, HYNDMAN,
   WOERNER  --  Multi-Sponsored  by  -- M. of A. BUCHWALD, CURRAN, ENGLE-
   BRIGHT, GLICK, KEARNS, LENTOL, LOPEZ, LUPINACCI,  McDONOUGH,  McLAUGH-
   LIN,  RA,  SIMANOWITZ,  SKARTADOS,  STECK,  THIELE  --  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".
   § 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.
              

co-Sponsors

multi-Sponsors

2017-A4982A - Details

See Senate Version of this Bill:
S4344
Current Committee:
Assembly Ways And Means
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 585, R & SS L; add §§99-bb & 99-cc, St Fin L
Versions Introduced in 2015-2016 Legislative Session:
A8332, S6045

2017-A4982A - 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.

2017-A4982A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4982--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2017
                                ___________
 
 Introduced  by  M. of A. RODRIGUEZ, LUPARDO, COOK, MONTESANO, SEPULVEDA,
   RICHARDSON, MAYER, SOLAGES, DILAN, PRETLOW, PICHARDO,  RIVERA,  BLAKE,
   O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA, JOYNER,
   FARRELL, HOOPER, DenDEKKER, WALKER,  GOTTFRIED,  AUBRY,  SANTABARBARA,
   GUNTHER,  PERRY, HUNTER, BICHOTTE, CRESPO, HARRIS, JEAN-PIERRE, BRAUN-
   STEIN, LAVINE, HEVESI,  DINOWITZ,  JENNE,  BRINDISI,  BARRON,  MOSLEY,
   STIRPE,  FAHY,  CASTORINA,  RAIA,  ROSENTHAL, SKOUFIS, LIFTON, WEPRIN,
   RAMOS,  ORTIZ,  QUART,  GALEF,  SEAWRIGHT,  SIMOTAS,  RYAN,   BRONSON,
   PEOPLES-STOKES, TITUS, KIM, KAVANAGH, WILLIAMS, COLTON, MOYA, HYNDMAN,
   WOERNER,  CARROLL, FINCH, MAGNARELLI, McDONALD, D'URSO, GRAF -- Multi-
   Sponsored by -- M.  of  A.    BUCHWALD,  CURRAN,  ENGLEBRIGHT,  GLICK,
   KEARNS,  LENTOL, LOPEZ, LUPINACCI, McDONOUGH, McLAUGHLIN, RA, SIMANOW-
   ITZ, SIMON, SKARTADOS, STEC, STECK, THIELE -- read once  and  referred
   to the Committee on Governmental Employees -- reported and referred to
   the  Committee on Codes -- 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".
   § 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.
              

co-Sponsors

multi-Sponsors

2017-A4982B (ACTIVE) - Details

See Senate Version of this Bill:
S4344
Current Committee:
Assembly Ways And Means
Law Section:
Retirement and Social Security Law
Laws Affected:
Add Art 14-C §§570 - 585, R & SS L; add §§99-bb & 99-cc, St Fin L
Versions Introduced in 2015-2016 Legislative Session:
A8332, S6045

2017-A4982B (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.

2017-A4982B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4982--B
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2017
                                ___________
 
 Introduced  by  M. of A. RODRIGUEZ, LUPARDO, COOK, MONTESANO, SEPULVEDA,
   RICHARDSON, MAYER, SOLAGES, DILAN, PRETLOW, PICHARDO,  RIVERA,  BLAKE,
   O'DONNELL,  NOLAN,  BENEDETTO,  ROZIC, ARROYO, TITONE, DAVILA, JOYNER,
   FARRELL, HOOPER, DenDEKKER, WALKER,  GOTTFRIED,  AUBRY,  SANTABARBARA,
   GUNTHER,  PERRY, HUNTER, BICHOTTE, CRESPO, HARRIS, JEAN-PIERRE, BRAUN-
   STEIN, LAVINE, HEVESI,  DINOWITZ,  JENNE,  BRINDISI,  BARRON,  MOSLEY,
   STIRPE,  FAHY,  CASTORINA,  RAIA,  ROSENTHAL, SKOUFIS, LIFTON, WEPRIN,
   RAMOS,  ORTIZ,  QUART,  GALEF,  SEAWRIGHT,  SIMOTAS,  RYAN,   BRONSON,
   PEOPLES-STOKES, TITUS, KIM, KAVANAGH, WILLIAMS, COLTON, MOYA, HYNDMAN,
   WOERNER, CARROLL, FINCH, MAGNARELLI, McDONALD, D'URSO, GRAF, MURRAY --
   Multi-Sponsored  by -- M.  of A. BUCHWALD, CURRAN, ENGLEBRIGHT, GLICK,
   KEARNS, LENTOL, LOPEZ, LUPINACCI, McDONOUGH, McLAUGHLIN, RA,  SIMANOW-
   ITZ,  SIMON,  SKARTADOS, STEC, STECK, THIELE -- read once and referred
   to the Committee on Governmental Employees -- reported and referred to
   the Committee on Codes -- committee discharged, bill amended,  ordered
   reprinted as amended and recommitted to said committee -- reported and
   referred  to  the Committee on Ways and Means -- 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".
   § 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.
              

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