02.18.22

Legislation Targets Auto Re-enrollment for DC Nonparticipants

by: Brian Croce

A bill that would encourage employers to automatically re-enroll employees who previously opted out of plans was introduced in the House and Senate Friday. Aimed at getting more people to save for retirement, the Auto Re-enroll Act of 2022, introduced by Sen. Tim Kaine (D-VA) and Rep. Kathy Manning (D-NC) would modify safe harbors in the Employee Retirement Income Security Act and the Internal Revenue Code to urge plan sponsors to re-enroll non-participants at least once every three years, unless the individual affirmatively opts out each time.

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