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This entry was published on 2024-02-02
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SECTION 1301
Program established
General Business (GBS) CHAPTER 20, ARTICLE 43
§ 1301. Program established. There is hereby established a retirement
savings program in the form of an automatic enrollment payroll deduction
IRA, known as the New York state secure choice savings program. The
general administration and responsibility for the proper operation of
the program shall be administered by the board for the purpose of
promoting greater retirement savings for private-sector employees in a
convenient, low-cost, and portable manner. The board may delegate such
authority and responsibility for the development and implementation of
the program to the department of taxation and finance as the board deems
proper.