Bill > S3712

This bill, the Auto Reenroll Act of 2022, amends the Internal Revenue Code and the Employee Retirement Income Security Act to require periodic automatic reenrollment in qualified automatic contribution arrangements and eligible automatic contribution arrangements. Specifically, for arrangements taking effect after December 31, 2024, employees who have previously opted out of making contributions must be automatically reenrolled at least every 3 plan years, unless they make a new election to opt out. This provision aims to increase retirement savings by automatically reenrolling employees who may have initially opted out.