,,ii #aae? ,,congress #a/ ,session ,s4 #ajce ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #c1 #bjag ,mr4 ,he9ri* 7= himself1 ,mr4 ,murphy1 ,mrs4 ,murray1 ,mr4 ,wyd51 ,mr4 ,durb91 ,mr4 ,van ,holl51 ,ms4 ,hassan1 ,mr4 ,c>p]1 ,mrs4 ,fe9/e91 ,mr4 ,blum5?al1 ,mrs4 ,%ahe51 ,ms4 ,h>ris1 ,mr4 ,b5net1 ,mr4 ,:iteh\se1 ,mr4 ,m]kley1 ,ms4 ,duckwor?1 ,mr4 ,book]1 & ,mr4 ,c>d97 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,heal?1 ,education1 ,labor1 & ,p5sions ,a ,,bill ,to am5d ! ,employee ,retirem5t ,income ,security ,act ( #aigd ) respect to ! scope ( employee p5sion b5efit plans4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,pres]ve ,rights ,( ,/ates & ,political subdivisions to ,enc\rage ,retirem5t ,sav+s ,act or ! ,,prosp]s ,act4 #b4 ,def9itions ,section #c ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajjb7 is am5d$-- 7#a7 9 p>agraph 7#b7-- 7,a7 9 subp>agraph 7,a71 by /rik+ subp>agraph 7,b7 & ins]t+ subp>agraphs 7,b7 & 7,c72 & 7,b7 by add+ at ! end ! foll[+3 7,c7 7i7 ,! t]ms employee p5sion b5efit plan & p5sion plan d n include an individual retirem5t plan 7z def9$ 9 section #ggja7;a77#cg7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 e/abli%$ & ma9ta9$ pursuant to a payroll d$uction sav+s program ( a ,/ate or qualifi$ political subdivision ( a ,/ate1 provid$ t-- 7,i7 ! program is specifically e/abli%$ pursuant to ,/ate or qualifi$ political subdivision law2 7,,ii7 ! program is implem5t$ & adm9i/]$ by ! ,/ate or qualifi$ political subdivision e/abli%+ ! program 7or by a gov]nm5tal ag5cy or in/rum5tality ( ei!r71 :i* is responsible = inve/+ ! employee sav+s or = select+ inve/m5t alt]natives = employees to *oose2 7,,iii7 ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 assumes responsibility = ! security ( payroll d$uctions & employee sav+s1 includ+ by requir+ t am\nts )held f wages by ! employ] be transmitt$ to ! program promptly & by provid+ an en=cem5t me*anism to assure compliance ) ?is requirem5t2 7,,iv7 ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 adopts measures to ensure t employees are notifi$ ( _! rights "u ! program1 & creates a me*anism = en=cem5t ( ^? rights2 7,v7 p>ticipation 9 ! program is volunt>y = employees2 7,,vi7 all rights ( ! employee1 =m] employee1 or b5efici>y "u ! program are en=ceable only by ! employee1 =m] employee1 or b5efici>y1 an au?oriz$ repres5tative ( su* a p]son1 or by ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r72 7,,vii7 ! involvem5t ( ! employ] is limit$ to-- 7aa7 collect+ employee contributions ?r\gh payroll d$uctions & remitt+ !m to ! program2 7bb7 provid+ notice to ! employees & ma9ta9+ records reg>d+ ! employ]'s collection & remittance ( paym5ts "u ! program2 7cc7 provid+ in=mation to ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 necess>y to facilitate ! op]ation ( ! program2 & 7dd7 di/ribut+ program in=mation to employees f ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 & p]mitt+ ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 to publicize ! program to employees2 7,,viii7 ! employ] contributes no funds to ! program & provides no bonus or o!r monet>y inc5tive to employees to p>ticipate 9 ! program2 7,,ix7 ! employ]'s p>ticipation 9 ! program is requir$ by ! law ( ! ,/ate law or qualifi$ political subdivision2 7,x7 ! employ] has no discretion>y au?ority1 control1 or responsibility "u ! program2 & 7,,xi7 ! employ] receives no direct or indirect consid]ation 9 ! =m ( ca% or o!rwise1 o!r ?an consid]ation 7includ+ tax inc5tives & cr$its7 receiv$ directly f ! ,/ate or qualifi$ political subdivision 7or gov]nm5tal ag5cy or in/rum5tality ( ei!r7 t does n exce$ an am\nt t reasonably approximates ! employ]'s 7or a typical employ]'s7 co/s "u ! program4 7ii7 ,a ,/ate sav+s program w n fail to satisfy ! requirem5ts ( subclauses 7,i7 ?r\gh 7,,xi7 ( clause 7i7 m]ely because ! program-- 7,i7 is direct$ t[>d ^? employ]s t d n (f] "s o!r workplace sav+s arrangem5t2 7,,ii7 utilizes "o or m s]vice or inve/m5t provid]s to op]ate & adm9i/] ! program1 provid$ t ! ,/ate 7or gov]nm5tal ag5cy or in/rum5tality ( ! ,/ate7 reta9s full responsibility = ! op]ation & adm9i/ration ( ! program2 or 7,,iii7 treats employees z hav+ automatically elect$ payroll d$uctions 9 an am\nt or p]c5tage ( comp5sation1 includ+ any automatic increases 9 su* am\nt or p]c5tage1 unless ! employee specifically elects n to h su* d$uctions made 7or specifically elects to h ! d$uctions made 9 a diff]5t am\nt or p]c5tage ( comp5sation all[$ by ! program71 provid$ t ! employee is giv5 adequate advance notice ( ! "r to make su* elections & provid$1 fur!r1 t a program may also satisfy ! requirem5ts ( su* subclauses 7,i7 ?r\gh 7,,xi7 )\t requir+ or o!rwise provid+ = automatic elections su* z ^? describ$ 9 ?is subclause4 7iii7 ,= purposes ( ?is subp>agraph1 ! t]m #8qualifi$ political subdivision' means any gov]nm5tal unit ( a ,/ate1 includ+ a city1 c\nty1 or simil> gov]nm5tal body1 t-- 7,i7 has ! au?ority1 implicit or explicit1 "u ,/ate law to require employ]s' p>ticipation 9 ! program z describ$ 9 clause 7i72 & 7,,ii7 at ! "t ( ! e/abli%m5t ( ! political subdivision's payroll d$uction sav+s program-- 7aa7 has a population equal to or great] ?an ! population ( ! lea/ populat$ ,/ate 7exclud+ ! ,di/rict ( ,columbia & t]ritories li/$ 9 p>agraph 7#aj772 7bb7 has no geographic ov]lap ) any o!r political subdivision t has enact$ a m&atory payroll d$uction sav+s program = private-sector employees & is n locat$ 9 a ,/ate t has enact$ su* a program /atewide2 & 7cc7 has implem5t$ & adm9i/]s a plan1 fund1 or program t provides retirem5t income to its employees1 or results 9 a def]ral ( income by its employees = p]iods ext5d+ to ! t]m9ation ( cov]$ employm5t or beyond4 7iv7 ,= purposes ( clause 7i77,,iii71 am\nts )held f an employee's wages by ! employ] are deem$ to be transmitt$ promptly if su* am\nts are transmitt$ to ! program z ( ! e>lie/ date on :i* su* contributions c reasonably be segregat$ f ! employ]'s g5]al assets1 b 9 no ev5t lat] ?an ! la/ day ( ! mon? foll[+ ! mon? 9 :i* su* am\nts w\ld o!rwise h be5 payable to ! employee 9 ca%4 4