All Roll Calls
Yes: 123 • No: 65
New JerseyA5358220th Legislature (2024-2025)HouseWALLET
Revises New Jersey Secure Choice Savings Program.*
Sponsored By: Shama A. Haider (Democratic), Melinda Kane (Democratic), Tennille R. McCoy (Democratic), Raj Mukherji (Democratic), Troy Singleton (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
8 provisions identified: 2 benefits, 0 costs, 6 mixed.
Employers face savings penalties with appeal rights
Enrollment failures without reasonable cause bring maximum penalties: a warning in the first violation year and $100 in the second. Maximums rise to $250 per unenrolled worker in years three and four, then $500 per worker in year five onward. Collected contributions not sent in trigger $2,500 for a first offense and $5,000 for each later offense; registering workers but failing without reasonable cause to deduct and send contributions also counts. Employers get notice, protest and hearing rights, payment plans, and refund review; the program can reduce or remove penalties. These rules start nine months after the board notifies the department of implementation; for authorized state offsets, penalties count as tax debts and refunds as tax overpayments.
Workers save automatically but keep contribution choices
Covered workers hired more than six months after enrollment opens must be enrolled within three months of hiring, unless they opt out. Without a chosen contribution, 3% of wages goes into savings, rising one percentage point yearly to 10%. This lowers take-home pay, and total annual IRA contributions cannot exceed the applicable federal limit. Workers can choose a dollar amount or wage percentage and request changes anytime; employers must apply changes at least quarterly. Previously enrolled workers can keep contributing directly to their existing account after changing jobs.
Savers get disclosures and beneficiary rights
The board must prepare employer and worker packets before enrollment opens and post packets and required reports on a public website. Workers receive packets when the program starts; new hires receive them at hiring. Packets explain contributions, choices, opting out, withdrawals, risks, benefits, no state guarantee, and employers' lack of financial-advice duties and liability for worker choices. The board must create a process to name beneficiaries and give them account access after a saver dies. Without a beneficiary named through that process, recipients are determined by New Jersey's rules for inheritance without a will.
Workers get a retirement account fee cap
Secure Choice annual administrative fees cannot exceed $26 per account plus 0.25% of the account balance. The cap limits how much program administration can take from retirement savings.
Employers gain retirement options and liability protections
Employers can meet their duties through a pension, 401(k), SEP, SIMPLE, or private automatic payroll-deduction IRA instead of Secure Choice. Qualifying plans through employee-leasing companies or professional employer organizations also count. The alternative-plan enforcement section starts nine months after the board notifies the department that the program is implemented. Beginning April 1, 2026, participating employers are not fiduciaries responsible for managing the program or liable for worker participation choices, investments, program design, or benefits paid. Employers still must handle enrollment, payroll deductions and transfers, and required compliance reports.
Employers must arrange payroll retirement savings
Covered employers must arrange payroll savings, enroll workers, and send contributions within nine months after Secure Choice enrollment opens. Coverage includes businesses with at least 10 employees throughout the prior calendar year and at least two years in business. They must not have offered a qualified retirement plan during the preceding two years. Employers with fewer than 10 employees at any time last year, or under two years in business, can join voluntarily by notifying the board. Employers can hire outside help for these tasks; for workers employed jointly by two companies, the client company counts as the employer.
Agencies share data for retirement enrollment
Beginning April 1, 2026, New Jersey's tax director can share tax-return information with Secure Choice for compliance, outreach, and enrollment. Tax and labor agencies must also share information necessary to run the program. Labor must work with the program on employer wage reports covering employee counts, names, weeks worked, and wages withheld for savings. Sharing is limited to program needs and remains subject to applicable safeguards and confidentiality protections.
State can fund retirement program startup
New Jersey can pay Secure Choice startup and management costs if lawmakers approve funding. State support can continue until the program fund has enough assets. After that, administrative costs and repayment of state-provided funds must come only from the fund. Private or federal implementation money requires repayment only when repayment was a funding condition.
Sponsors & Cosponsors
Sponsors
Shama A. Haider
Democratic • House
Melinda Kane
Democratic • House
Tennille R. McCoy
Democratic • House
Raj Mukherji
Democratic • Senate
Troy Singleton
Democratic • Senate
Cosponsors
Patrick J. Diegnan Jr.
Democratic • Senate
Angela V. McKnight
Democratic • Senate
Benjie E. Wimberly
Democratic • Senate
Roll Call Votes
House vote • 1/12/2026
CONCUR IN SA
Yes: 50 • No: 22
Senate vote • 1/12/2026
3RDG FINAL PASSAGE
Yes: 24 • No: 15
House vote • 5/22/2025
3RDG FINAL PASSAGE
Yes: 49 • No: 28
Actions Timeline
Approved by Governor — P.L.2025, c.379.
1/20/2026GovernorPassed Assembly, PBH — (50-22-0)
1/12/2026HouseReceived in Assembly, 2RAC
1/12/2026HousePassed Senate — (24-15)
1/12/2026SenateSubstituted for S4564 (1R)
1/12/2026SenateREP/SCA, 2nd Reading in Senate
1/8/2026SenateTRANS Senate Budget and Appropriations Committee
12/22/2025SenateReceived in Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
5/29/2025SenatePassed Assembly — (49-28-0)
5/22/2025HouseREP/ACA, 2nd Reading in Assembly
5/15/2025HouseRCM Assembly Appropriations Committee
5/15/2025HouseReported, 2nd Reading in Assembly
4/10/2025HouseTRANS Assembly State and Local Government Committee
4/10/2025HouseIntroduced, 1st Reading in Assembly, Referred to Assembly Financial Institutions and Insurance Committee
2/25/2025House
Bill Text
Version PL2025
8/7/2026
Version AL2025
7/7/2026
1/15/26; 2R
1/15/2026
Senate Budget and Appropriations (1/8/26 2R)
1/13/2026
Senate Budget and Appropriations (1/8/26 1R)
1/9/2026
5/27/25; 1R
5/29/2025
Assembly Appropriations (5/15/25 1R)
5/16/2025
Assembly Appropriations Substitute (5/15/25)
5/16/2025
Assembly State and Local Government Substitute (4/10/25)
4/11/2025
As Introduced
2/26/2025
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