New York S 5728: Expands participation in the New York state secure choice savings program

Bill Text

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S05728 Summary:

BILL NOS05728 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORHARCKHAM

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §1300, Gen Bus L

&nbsp

Expands participation in the New York state secure choice savings program.

Go to top S05728 Actions:

BILL NOS05728 

&nbsp

02/28/2025REFERRED TO CONSUMER PROTECTION

01/07/2026REFERRED TO CONSUMER PROTECTION

Go to topS05728 Committee&nbspVotes:

Go to topS05728 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05728 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5728

 2025-2026 Regular Sessions

 IN SENATE

 February 28, 2025
 ___________

 Introduced by Sen. HARCKHAM -- read twice and ordered printed, and when
 printed to be committed to the Committee on Consumer Protection

 AN ACT to amend the general business law, in relation to expanding
 participation in the New York state secure choice savings program

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 4 of section 1300 of the general business law,
 2 as amended by chapter 776 of the laws of 2023, is amended to read as
 3 follows:
 4 4. "Employer" shall mean a person or entity engaged in a business,
 5 industry, profession, trade, or other enterprise in New York state,
 6 whether for profit or not for profit, that (i) has at all times during
 7 the previous calendar year employed at least [ten] five employees in the
 8 state, (ii) has been in business at least two years, and (iii) has not
 9 offered a qualified retirement plan, including, but not limited to, a
 10 plan qualified under sections 401(a), 401(k), 403(a), 403(b), 408(k),
 11 408(p) or 457(b) of the Internal Revenue Code of 1986 in the preceding
 12 two years.
 13 § 2. This act shall take effect on the first of January next succeed-
 14 ing the date on which it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10467-01-5

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