New Mandatory Retirement Plan Requirement For Certain New York City Employers
By EsqSocial Corporation 18/05/21
On May 11, 2021, the City Council of New York enacted a local law to establish a retirement savings program for certain employees of private entities. What are the Details? The new law creates a mandatory auto-enrollment payroll deduction individual retirement account (“IRA”) program for employees of private sector employers in New York City which (i) do not offer a retirement plan and (ii) employ five or more employees......
By: Jackson Lewis P.C.