ASSEMBLY STATE AND LOCAL GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5358

STATE OF NEW JERSEY

DATED:  APRIL 10, 2025

      The Assembly State and Local Government Committee reports favorably Assembly Bill No. 5358.

The bill reduces the threshold for required participation in the New Jersey Secure Choice Savings Program from businesses that have 25 or more employees to businesses that have one or more employees.

      The bill removes references to the term “small employer” in the “New Jersey Secure Choice Savings Program Act” to reflect this change.