Bill > SF2984

This bill establishes penalties and enforcement mechanisms for the Minnesota Secure Choice Retirement Program, targeting employers who fail to comply with program requirements. The bill outlines a graduated penalty structure for employers who do not enroll covered employees or distribute required program information, starting with $100 per employee in the second year of non-compliance and escalating to $500 per employee in subsequent years, with maximum penalty caps. Before assessing penalties, the board must provide written notice to employers and allow 30 days to cure violations or request a waiver. The bill also addresses penalties for employers who fail to remit employee contributions, including potential misdemeanor charges for willful non-transmission of contributions and a $250 penalty for repeated non-compliance. Covered employees or the attorney general can bring civil actions against non-compliant employers, seeking compensatory damages and potential injunctive relief. The bill provides for reasonable cost recovery, including attorney fees, and allows legal actions to be filed in various jurisdictions. These provisions are designed to ensure employer participation and timely contribution to the state-sponsored retirement savings program for workers without traditional workplace retirement plans.

Government Affairs, Justice

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2984&ssn=0&y=2025