NY A09882

Expands the New York Secure Choice Savings Program to include "participating individuals" who are at least 18 years old with New York taxable income, allowing them to enroll independently without an employer relationship.

Establishes a personal IRA option for participating individuals who can make contributions directly from bank accounts at frequencies and levels they select, up to IRA deductible limits under Internal Revenue Code section 219(b)(1)(A).

Requires the board to design and make publicly available informational materials for participating individuals explaining program benefits, risks, contribution processes, withdrawal procedures, and beneficiary selection before opening enrollment by December 31, 2023.

Mandates creation of a secure website where participating individuals can access account information including contributions, investment income, withdrawals, and balances, plus information on transferring accounts to other programs.

Modifies definitions and board duties throughout the General Business Law to accommodate both employee enrollees under payroll deduction and independent participating individuals in the retirement savings program.