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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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--primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); 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Warning (2): include(/var/www/vhosts/vcc_staging/app/Resource/aarp2_master.resource.root.html) [<a href='http://php.net/function.include'>function.include</a>]: failed to open stream: No such file or directory [APP/View/Layouts/aarp_2023.ctp, line 54]Code Context<?php if (!$nowrapper): // MLW - Spanish wrappers TBD
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); 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--primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; 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--grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }'include - APP/View/Layouts/aarp_2023.ctp, line 54 include - APP/View/Layouts/aarp_2023.ctp, line 54 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::renderLayout() - CORE/Cake/View/View.php, line 546 View::render() - CORE/Cake/View/View.php, line 481 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 118
Warning (2): include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app/Resource/aarp2_master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [APP/View/Layouts/aarp_2023.ctp, line 54]Code Context<?php if (!$nowrapper): // MLW - Spanish wrappers TBD
include (APP . "Resource/aarp2_master.head.html");
include (APP . "Resource/aarp2_master.resource.root.html");
$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.
Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs.
What is the “Secure Choice Savings Program”? A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a bill in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.
The bill will be sent to the Governor, who can sign it into law or veto it.
You can help us urge the Governor to sign the bill by going here.
The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.
The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice program. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.
What does the program mean for New Yorkers? The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. Over half of private sector workers in New York State – more than 3.5 million working New Yorkers - have no access to a retirement savings plan at work, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are 15 times likelier to save if they can do so at work – 20 times more likely if they can do so through automatic payroll-deduction, which typically results in a 90 percent participation rate.
Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (see pages 7-15 here for the language of the original Secure Choice law, and here for this year’s legislation to strengthen the program). When will the program be available? Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit www.aarp.org/money
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); 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Warning (2): include(/var/www/vhosts/vcc_staging/app/Resource/aarp2_master.bodyTargeting.html) [<a href='http://php.net/function.include'>function.include</a>]: failed to open stream: No such file or directory [APP/View/Layouts/aarp_2023.ctp, line 243]Code Context<?php if (!$nowrapper): // MLW - Spanish wrappers TBD
include (APP . "Resource/aarp2_master.footer.html");
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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Warning (2): include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app/Resource/aarp2_master.bodyTargeting.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [APP/View/Layouts/aarp_2023.ctp, line 243]Code Context<?php if (!$nowrapper): // MLW - Spanish wrappers TBD
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; 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}); </script> </div> </div> ', 'scripts_for_layout' => '<title>What You Need to Know About the Secure Choice Program</title> <meta name="page_title" content="What You Need to Know About the Secure Choice Program"/> <meta name="robots" content="noindex, nofollow"/> <meta content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through" name="description"/> <meta content="What, You, Need, Know, About, Secure, Choice, Program" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/new-york/need-know-secure-choice-program" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/what-you-need-to-know-about-the-secure-choice-program-ny-2021-06-15.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="What You Need to Know About the Secure Choice Program"/> <meta name="twitter:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="What You Need to Know About the Secure Choice Program"/> <meta property="og:description" content="Secure Choice is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable,"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2bb6ab6/2147483647/strip/true/crop/2035x1308+233+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F75%2F0a%2F10cbd0d5d3c4695c6aa6d3b505a0%2Fnyvictory-1200x628-3.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">What You Need to Know About the Secure Choice Program</h1></header> <div class="posted-on"> Posted on 06/15/21 by <b>Andre Hidalgo</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><div class="Enhancement"> <div class="Enhancement-item"><figure class="Figure" data-alignment="center"><img src="https://aarp-states.brightspotcdn.com/f8/60/2545d90c4764947c20160f517ce0/gettyimages-1273354279.jpg" alt="Staff working at a restaurant wearing facemasks during the pandemic" style="height: auto; max-width: 600px; max-height: 600px;"/> </figure> </div> </div><p><b><u>Secure Choice</u></b> is a workplace retirement savings option that could help millions of working New Yorkers save for their futures on the job through portable, payroll-deduction Individual Retirement Accounts (IRAs). The program was enacted into law as part of the 2018-19 New York State Budget and is still in the process of being implemented.<br><br>Secure Choice will provide a convenient and effective way for people to save at work - and continue saving even if they change jobs. <br><br><b>What is the “Secure Choice Savings Program”?</b> A new workplace retirement savings program to help working New Yorkers save for their future – and choose how they live as they age. The New York State Legislature passed a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">bill</a></span></span> in 2021 to require that private companies and not-for-profit organizations which employ at least 10 people and don’t currently provide a workplace retirement savings option offer their employees Secure Choice, and to automatically enroll workers in state-facilitated Secure Choice IRAs unless workers opt out.<br><br>The bill will be sent to the Governor, who can sign it into law or veto it.<br><br>You can help us urge the Governor to sign the bill by going <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://action.aarp.org/SecureChoiceNY" target="_blank">here</a></span></span>.<br><br>The program, to be overseen by the State, will be professionally managed by one or more private investment firms. It will offer businesses a convenient, low-cost tool to attract and retain employees and provide workers with an easy and effective way to save - and to continue saving if they change jobs because their IRA will be portable.<br><br>The New York Council also passed, and the Mayor signed into law in 2021, a similar Secure Choice <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/new-york/aarp-new-york-commends-city-council-for-creating-new-retirement-savings-plan-for-workers-in-nyc" target="_blank">program</a></span></span>. But it will go into effect only if the Governor vetoes the State bill; if the Governor signs the State legislation into law, the State program will supersede the City’s.<br><br><b>What does the program mean for New Yorkers? </b> The chance for potentially millions of New Yorkers who work for private companies or private not-for-profit organizations to save through payroll-deduction – the easiest and most effective way to save. <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.aarp.org%2Fcontent%2Fdam%2Faarp%2Fppi%2F2015-07%2FAARP-NewYork-state-fact-sheet.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435779072%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=IZrqzWJYIKHRg4IQ%2FzTWwdZUBdy6NJKn18TYRLoM8vQ%3D&reserved=0" target="_blank">Over half</a></span></span> of private sector workers in New York State – more than 3.5 million working New Yorkers - <b><u>have no access to a retirement savings plan at work</u></b>, which creates a significant barrier toward saving for the future. Over two-thirds of Hispanic New Yorkers working in the private sector lack such access, as do more than 60 percent of Asian Americans and 52 percent of African Americans. Americans are <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://blog.aarp.org/2014/06/24/greater-saving-can-increase-retirement-security-and-economic-growth/" target="_blank">15 times</a></span></span> likelier to save if they can do so at work – <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftsretirement.com%2Fwp-content%2Fuploads%2F2019%2F10%2FAutomatic-Enrollment-the-power-of-default.pdf&data=04%7C01%7Cekriss%40aarp.org%7C028ce603887142a39f1208d91ad6df4c%7Ca395e38b4b754e4493499a37de460a33%7C0%7C0%7C637570332435789068%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DAll825u9IrBGSGvZyoIcFVswFBtbUkyYZxzSuMCeYY%3D&reserved=0" target="_blank">20 times more likely</a></span></span> if they can do so through automatic payroll-deduction, which typically results in a <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.ebri.org/pdf/programs/policyforums/Robinson0510PF.pdf" target="_blank">90 percent</a></span></span> participation rate.<br><br>Governor Andrew Cuomo and the New York state Legislature showed vision in proposing and enacting this game-changing program, which will help correct disparities in New Yorkers’ retirement savings – especially within communities of color (<i>see pages 7-15 </i><span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.nysenate.gov/legislation/bills/2017/s7505/amendment/original" target="_blank">here</a></span></span> <i>for the language of the original Secure Choice law, and <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="https://www.assembly.state.ny.us/leg/?default_fld=&leg_video=&bn=A03213&term=&Summary=Y&Actions=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y&Memo=Y&Text=Y" target="_blank">here</a></span></span> for this year’s legislation to strengthen the program</i>)<b>.</b> <b>When will the program be available?</b> Secure Choice is scheduled to take effect in 2022. The law requires the State to create an oversight board to develop rules and regulations for the program. For more information about retirement savings and tools, visit <span class="Enhancement"><span class="Enhancement-item"><a class="Link" href="http://www.aarp.org/money" target="_blank">www.aarp.org/money</a></span></span></p></div> </div> </p></span> </div> </div> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/ambler-pa/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <!-- module_RHS - AARP Events --> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-trace').style.display = (document.getElementById('cakeErr66da9bace7fcb-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace7fcb-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-code').style.display = (document.getElementById('cakeErr66da9bace7fcb-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace7fcb-context').style.display = (document.getElementById('cakeErr66da9bace7fcb-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace7fcb-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-trace').style.display = (document.getElementById('cakeErr66da9bace8e1c-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66da9bace8e1c-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-code').style.display = (document.getElementById('cakeErr66da9bace8e1c-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66da9bace8e1c-context').style.display = (document.getElementById('cakeErr66da9bace8e1c-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66da9bace8e1c-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?> <style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style>', 'css' => '.recommendationSection h3 {font-size:30px} .recommenadationSection .js-mvc-offer-recommended-article-pack-category {color:rgb(221,18,0); font-size:12px} .recommendationSection h4 a {color:#121212; font-size:20px} ', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><style type="text/css"> .recommenationSection {font-family: Lato, sans-serif} .recommendationSection h3 {font-size:30px!important; text-transform:none; letter-spacing:0.03em} .recommendationSection .js-mvc-offer-recommended-article-pack-category {color:#dd1200; font-family:Lato, sans-serif; font-size:15px; font-weight:700; text-transform:uppercase; margin:0} .recommendationSection h4 a {color:#121212; font-size:20px; font-weight:700} .recommendationSection .uxdia-c-featured-tile__content-wrapper {padding: 0 0 .5em 0; margin-bottom: 1.25em; border-bottom: 1px solid #000} </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-AMBLER-PA">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Pennsylvania Facebook Page" title="Image of AARP Pennsylvania Facebook Page" data-href="https://www.facebook.com/AARPPA" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/AARPPA" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/AARPPA">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP <br /> in Philadelphia</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:PAAARP@aarp.org" target="_blank" rel="noopener">PAAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/pennsylvania/" target="_blank" rel="noopener">AARP Pennsylvania</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/your-local-aarp-office/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-AMBLER-PA" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Facebook"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png" alt="Facebook icon" title="Facebook icon"></a> <a href="https://twitter.com/AARPPA" target="_blank" rel="noopener" aria-label="Open Twitter"><img src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png" alt="Twitter icon" title="Twitter icon"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); 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