§ 1300. Definitions. All terms shall have the same meaning as when
used in a comparable context in the Internal Revenue Code. As used in
this article, the following terms shall have the following meanings:

1. "Board" shall mean the New York secure choice savings program board
established under this article.

2. "Superintendent" shall mean the superintendent of the department of
financial services.

2-a. "Commissioner" shall mean the commissioner of taxation and
finance.

2-b. "Comptroller" shall mean the comptroller of the state.

3. "Employee" shall mean any individual who is eighteen years of age
or older, who is employed by an employer, and who earned wages working
for an employer in New York state during a calendar year.

4. "Employer" shall mean a person or entity engaged in a business,
industry, profession, trade, or other enterprise in New York state,
whether for profit or not for profit, that (i) has at all times during
the previous calendar year employed at least ten employees in the state,
(ii) has been in business at least two years, and (iii) has not offered
a qualified retirement plan, including, but not limited to, a plan
qualified under sections 401(a), 401(k), 403(a), 403(b), 408(k), 408(p)
or 457(b) of the Internal Revenue Code of 1986 in the preceding two
years.

5. "Enrollee" shall mean any employee or individual who is enrolled in
the program.

6. "Internal Revenue Code" shall mean the Internal Revenue Code of
1986, or any successor law, in effect for the calendar year.

7. "IRA" shall mean a Roth IRA (individual retirement account).

8. "Participating employer" shall mean an employer that facilitates
access to the program's payroll deduction IRA as provided for by this
article for its employees who are enrollees in the program.

9. "Payroll deduction IRA" shall mean an arrangement by which a
participating employer facilitates access for enrollees to remit payroll
deduction contributions to the program.

10. "Program" shall mean the New York state secure choice savings
program.

11. "Wages" means any compensation within the meaning of section
219(f)(1) of the Internal Revenue Code that is received by an enrollee
from a participating employer during the calendar year.