NJ S4564

Lowers the employer participation threshold for the New Jersey Secure Choice Savings Program from businesses with 25 or more employees to businesses with at least one employee

Requires all employers meeting the new threshold to establish payroll deposit retirement savings arrangements and automatically enroll employees who don't opt out

Eliminates the "small employer" category (previously defined as businesses with fewer than 25 employees) that had allowed voluntary rather than mandatory participation

Maintains the requirement that covered employers must have been in business at least two years and not offered a qualified retirement plan in the preceding two years

Takes effect on the first day of the third month after enactment