5740-S2.E AMH HOFF H2930.1
E2SSB 5740 - H AMD TO APP COMM AMD (H-2882.1/19) 632
By Representative Hoff
NOT CONSIDERED 12/23/2019
On page 1, line 11, after "program" strike "using an opt-out approach"
On page 1, beginning on line 17, after "program" strike "with automatic enrollment ("auto-IRA")"
On page 4, at the beginning of line 23, strike "automatically enrolled" and insert "offered enrollment"
On page 5, line 2, after "state's" strike "auto-IRA"
On page 5, line 3, after "joint" strike "auto-IRA"
On page 5, line 7, after "case, the" strike "auto-IRA"
On page 5, beginning on line 32, after "(2)" strike all material through "and" on line 33 and insert "If the covered employee affirmatively chooses to be enrolled in the program,"
On page 5, beginning on line 35, after "elects" strike "not to contribute or"
On page 6, line 6, after "elections" strike ", including opt-out elections,"
On page 7, beginning on line 19, after "program" strike all material through "program" on line 22
On page 10, line 31, after "state's" strike "auto-IRA"
On page 11, line 12, after "to" strike "auto"
EFFECT: Requires an employer to withhold retirement contributions for an IRA established under the program only if an employee chooses to enroll. Removes references to opt-out and automatic enrollment.
--- END ---