§ 1310. Program implementation and enrollment. Except as otherwise
provided in this article, the program shall be implemented, and
enrollment of employees shall begin no later than December thirty-first,
two thousand twenty-one. The provisions of this section shall be in
force after the board opens the program for enrollment.

1. (a) Each participating employer shall have a payroll deposit
retirement savings arrangement to allow each employee to participate in
the program at most nine months after the board opens the program for
enrollment.

(b) Participating employers shall automatically enroll in the program
each of their employees who has not opted out of participation in the
program using the form described in this article and shall provide
payroll deduction retirement savings arrangements for such employees and
deposit, on behalf of such employees, these funds into the program.

2. Enrollees shall have the ability to select a contribution level
into the program. This level may be expressed as a percentage of wages
or as a dollar amount up to the deductible amount for the enrollee's
taxable year under section 219(b)(1)(A) of the Internal Revenue Code.
Enrollees may change their contribution level at any time, subject to
rules promulgated by the board. If an enrollee fails to select a
contribution level using the form described in this article, then he or
she shall contribute three percent of his or her wages to the program,
provided that such contributions shall not cause the enrollee's total
contributions to IRAs for the year to exceed the deductible amount for
the enrollee's taxable year under section 219(b)(1)(A) of the Internal
Revenue Code. The deduction of contributions from an employee's wages
shall not begin until the thirtieth day after such employee has been
enrolled in the program.

3. Enrollees may select an investment option offered under the
program. Enrollees may change their investment option at any time,
subject to rules promulgated by the board. In the event that an enrollee
fails to select an investment option, that enrollee shall be placed in
the investment option selected or authorized by the board as the default
under this article.

4. Following initial implementation of the program pursuant to this
section, at least once every year, the program shall designate an open
enrollment period during which employees who previously opted out of the
program may enroll in the program.

5. An employee who opts out of the program and who subsequently wants
to participate may only enroll during the program's designated open
enrollment period or if permitted by the program at an earlier time.

6. Employers shall retain the option at all times to set up any type
of employer-sponsored retirement plan.

7. An enrollee may terminate his or her enrollment in the program at
any time in a manner prescribed by the board.

8. (a) The board shall establish or authorize a website regarding the
secure choice savings program.

(b) The board shall establish and maintain or authorize the
establishment and maintenance of a secure website wherein enrollees may
log in and acquire information regarding contributions and investment
income allocated to, withdrawals from, and balances in their program
accounts for the reporting period. Such website must also include
information for the enrollees regarding other options available to the
employee and how they can transfer their accounts to other programs
should they wish to do so. Such website may include any other
information regarding the program as the board may determine.

9. 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 offers 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
shall not terminate such plan for the purposes of participating in the
program.