The “New Jersey Secure Choice Savings Program Act” sets up the program for certain workers not covered by another retirement plan. It establishes a standard employee contribution level for those workers of 3%. An employer who fails without reasonable cause to enroll any employee who hasn’t opted out of the program within the prescribed time is subject to penalties. They range from $100 to $500 per employee for the 2nd to 5th calendar year a violation occurs, respectively.

Contact the Cg Team with questions via the form to the right or call 732.676.4100. © 2019

State of New Jersey 218th Legislature. June 11, 2018. [Second Reprint] ASSEMBLY, No. 4134.