Bill > H7475

This bill makes several technical adjustments to the Rhode Island Secure Choice Retirement Savings Program Act to ensure its continued operation and facilitate partnerships with other states. Key changes include defining "optional employee" as someone not employed by an eligible employer but who chooses to join the program, and clarifying that investment options offered by the program must be reviewed by the State Investment Commission at least every three years. The bill also updates provisions regarding employer participation exemptions, allowing employers offering certain tax-qualified retirement plans to be exempt from the Secure Choice program. Additionally, it clarifies that "optional employees" can enroll and withdraw from the program, and that the program's provisions are severable, meaning if one part is found unconstitutional or preempted by federal law, the rest of the act will remain in effect.

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