Mandatory Periodic Automatic Reenrollment in Employer Retirement Plans.
This law requires employers offering automatic enrollment retirement plans (like 401(k)s) to periodically reenroll employees who previously opted out. If an employee chooses not to participate, that decision will expire after 1 to 3 years, and they will be automatically enrolled again unless they actively submit a new opt-out form. This change aims to boost retirement savings participation among workers by making saving the default option.
Key points
If you opted out of your employer's automatic retirement savings plan (e.g., 401(k)), your opt-out decision will expire after a maximum of 3 years.
After the expiration, you will be automatically reenrolled and contributions will start, unless you actively submit a new form to opt out.
The rule applies to plans with automatic contribution features and is designed to encourage consistent saving for retirement, directly impacting personal finances.
Expired
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