STATE OF NEW YORK
________________________________________________________________________
5728
2025-2026 Regular Sessions
IN SENATE
February 28, 2025
___________
Introduced by Sen. HARCKHAM -- read twice and ordered printed, and when
printed to be committed to the Committee on Consumer Protection
AN ACT to amend the general business law, in relation to expanding
participation in the New York state secure choice savings program
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 4 of section 1300 of the general business law,
2 as amended by chapter 776 of the laws of 2023, is amended to read as
3 follows:
4 4. "Employer" shall mean a person or entity engaged in a business,
5 industry, profession, trade, or other enterprise in New York state,
6 whether for profit or not for profit, that (i) has at all times during
7 the previous calendar year employed at least [ten] five employees in the
8 state, (ii) has been in business at least two years, and (iii) has not
9 offered a qualified retirement plan, including, but not limited to, a
10 plan qualified under sections 401(a), 401(k), 403(a), 403(b), 408(k),
11 408(p) or 457(b) of the Internal Revenue Code of 1986 in the preceding
12 two years.
13 § 2. This act shall take effect on the first of January next succeed-
14 ing the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10467-01-5
