To amend the Internal Revenue Code of 1986 to establish an exception for multiemployer plan participants to the requirements for automatic enrollment.

This bill changes the federal tax code so that multiemployer retirement plans are exempt from the rule requiring certain retirement plans to automatically enroll workers. Multiemployer plans are plans set up under agreements involving more than one employer, often through a union. The bill adds these plans to the existing exemption that already covers governmental plans and church plans. The change would apply to taxable years beginning after December 31, 2024.

Full text and official record on Congress.gov

Sponsors

• Brad Finstad Republican sponsor
• 17 cosponsors