Heptig Shares Perspective on Secure Choice Savings ProgramDecember 29, 2021 | |
Newsday spoke with Kate Heptig for the article, “State program aims to bring small-firm workers into retirement plans.” According to the article, New York will begin to enforce legislation passed in 2018 requiring employers with 10 or more employees to offer a voluntary retirement savings program.
Kate commented that while the legislation requires employees to start enrolling beginning December 31 of this year, that date is pending additional guidance from the state Department of Taxation and Finance.
In addition, she noted that only certain employers will be mandated to participate: employers that at all times during the previous calendar year employed at least 10 employees in New York, have been in business at least two years and don’t offer a qualified retirement plan.
All in all, however, “I don’t’ think this is necessarily going to be as big a burden as people might think,” she said.
- Katherine A. Heptig