Auto Reenroll Act Reintroduced

Senators Bill Cassidy (R-LA) and Tim Kaine (D-VA) have re-introduced the Auto Reenroll Act to permit plan sponsors to reenroll non-participating eligible employees at least once every three years unless the individual affirmatively opts out again.   

According to a press release, one in four workers are not enrolled in their employer-sponsored plans, and one-third are not taking advantage of their full employer matching contribution. Prompting workers to reconsider participation or increase their contribution may be critical to improving savings outcomes.