NY A08508

Eliminates the "participating individual" category from the New York state secure choice savings program, consolidating all program participants under the single "enrollee" designation.

Removes provisions allowing individuals to enroll in the program independently of an employment relationship and limits enrollment to employees of participating employers or individuals with access through payroll deduction arrangements.

Repeals section 1310-a of the general business law, which previously established enrollment and participation processes for non-employee individuals.

Simplifies program administration by removing separate requirements for individual participant materials and processes, focusing informational materials and disclosure forms on employee enrollees.

Takes effect on the same date as the 2023 legislation (S. 2399 and A. 4529) that originally established the secure choice savings program framework.