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Automatic Re-enrollment in Retirement Plans Post-2024

This act mandates automatic re-enrollment of employees into workplace retirement plans every three years if they previously opted out. The goal is to boost citizens' retirement savings by making it easier to accumulate funds for the future, unless they actively opt out again.
Key points
Employees who opted out of retirement plans will be automatically re-enrolled every 3 years, starting in 2025.
To avoid participation, employees must actively opt out of re-enrollment each time.
Changes apply to 401(k) and similar retirement arrangements that take effect after December 31, 2024.
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Additional Information
Print number: 117_HR_6782
Sponsor: Rep. Manning, Kathy E. [D-NC-6]
Process start date: 2022-02-18