Bill > HR4924

This bill, the Auto Reenroll Act of 2023, amends the Internal Revenue Code and the Employee Retirement Income Security Act to allow for periodic automatic reenrollment under qualified automatic contribution arrangements (QACAs) and eligible automatic contribution arrangements (EACAs). Specifically, it permits these arrangements to automatically reenroll employees who had previously opted out, unless they make a new election not to contribute, after a period of up to 3 years but not less than 1 year. This is intended to help increase retirement savings by making it easier for employees to remain enrolled in these types of retirement plans.