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|New York City Mandates Retirement Savings for All Private Sector Employees|
Fox Rothschild LLP
May 14, 2021
"While employers are not required to contribute to the plans, the law requires employers to enroll employees who are age 21 or over and work at least 20 hours a week, remit funds deducted from the earnings of each eligible employee for deposit into the program, and distribute information about the program to its employees.... The law establishes a Retirement Savings Board to facilitate the implementation of the program."
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