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Automatic Re-enrollment in Retirement Plans

This act introduces changes that will automatically re-enroll employees who previously opted out of automatic enrollment retirement plans every three years. This aims to boost retirement savings unless the employee opts out again.
Key points
Employees who opted out of automatic enrollment retirement plans will be automatically re-enrolled every 3 years.
This change applies to plans taking effect after December 31, 2024.
Employees retain the right to opt out of the plan after re-enrollment.
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Additional Information
Print number: 117_S_3712
Sponsor: Sen. Kaine, Tim [D-VA]
Process start date: 2022-02-28