AN ACT RELATING TO PUBLIC FINANCE -- RHODE ISLAND SECURE CHOICE RETIREMENT SAVINGS PROGRAM ACT

Summary

The bill creates the Rhode Island Secure Choice (RISavers) program, a state‑administered retirement savings plan that automatically enrolls eligible employees unless they opt out. It obligates employers with five or more workers to set up payroll‑deposit arrangements and defines investment options, oversight, and tax‑deferred treatment. The goal is to expand retirement savings coverage for workers who lack employer‑provided plans.

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