NJ A2056

Expands the New Jersey Secure Choice Savings Program to cover employers with at least one employee, down from the previous threshold of 25 or more employees

Changes the administrative fee structure from a percentage-based cap (0.6% of total fund balance) to a flat fee of $26 per account plus 0.25% of each enrollee's account balance

Implements automatic contribution escalation, increasing default employee contributions by 1% annually until reaching a maximum of 10% of wages

Allows board members to serve until successors are appointed and be reappointed, and authorizes the board to pursue multi-state agreements for shared program administration

Requires the Department of Labor and Workforce Development and Division of Taxation to share employer and taxpayer information with the program for compliance purposes