Bill > HR6782

This bill, titled the "Auto Reenroll Act of 2022," amends the Internal Revenue Code and the Employee Retirement Income Security Act to require periodic automatic reenrollment under qualified automatic contribution arrangements and eligible automatic contribution arrangements. Specifically, the bill mandates that for plans taking effect after December 31, 2024, employees who are eligible to participate but have opted out must be automatically reenrolled at least every 3 plan years, unless they make a new affirmative election to opt out. This change aims to increase retirement plan participation and savings by periodically prompting employees to reconsider their opt-out decisions.