Bill > HF2942

This bill makes several administrative and technical changes to the Minnesota Secure Choice Retirement Program Act, primarily focusing on enhancing program operations and clarifying employer requirements. The bill requires the commissioner of employment and economic development to disclose employer information to the Secure Choice board upon request, including business details and contact information. It modifies the definition of "covered employee" to exclude temporary or seasonal workers hired for 120 days or less, while still allowing those workers to opt into the program. The bill introduces an "enrollment window" concept, specifying when employers must enroll employees, and adjusts contribution rate escalation, starting at 5% in the first year and increasing to 8% by the fourth year. The legislation also strengthens enforcement mechanisms, giving the board more power to impose penalties for non-compliance, extends the warning period for employers to two years before assessments begin, and adds provisions for the executive director's role, such as filing economic interest statements and limitations on voting and participation in matters that could result in personal economic gain. Additionally, the bill makes technical changes to board membership terms and requires collaboration with other state agencies while maintaining data privacy.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2942&ssn=0&y=2025