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Monday Morning Memo-2-1-16
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February 1, 2016
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Update: "Secure Choice" Retirement Savings Plan 

Last week the Monday Morning Memo had a brief article regarding the NJ Legislature's passing a bill creating a "Secure Choice" retirement savings program targeting employees of firms who do not have a company sponsored retirement savings program. The NJSA Legal Legislative Committee is pleased to provide this update on what could have been very challenging legislation for NJ's business community. 

The bill was conditionally vetoed by Governor Christie. The State Legislature has accepted his changes to the bill and passed it into law as of January 12, 2016. However the Governor's changes were significant: 

1. Instead of state government getting into the Retirement Fund Management business with all the employee's retirement contributions from this program going into a state managed fund (with all of its bureaucracy and administrative expenses), the state is now only creating a "New Jersey Small Business Retirement Marketplace" to facilitate access for small NJ businesses to private plans that encourage/meet the employee's retirement savings needs. 

2. Instead of making it mandatory for all employers with more than 25 employees who don't offer an employer-sponsored retirement savings plan (i.e., 401k, etc.) to offer the Secure Choice plan to employees (subject to associated fees, fines, penalties, etc.), the law now only applies to employers with less than 100 employees.

3. Instead of employers having to automatically enroll covered employees unless they individually "opt out", the law does not require automatic enrollment. 
In This Issue

Programs & Events


Law Day V - February 11


NJSA Memberships
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Law Day V- February 11, 2016. Full event details now available and 

Executive Leadership Conference - April 26-28, 2016, The Borgata, Atlantic City, New Jersey
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The Governor modeled his approach on a similar program being implemented in the State of Washington, and NJ's State Legislature has accepted this new approach unanimously. In summary, the final version of the law delegates to the State Treasurer responsibility for creating this "marketplace", in collaboration with private sector experts and service providers. There was no time requirement established for its implementation. 

Thanks to Governor Christie, damaging legislation has been averted while his new proposal still addresses real, valid issues in manner that does not penalize NJ businesses and expand State bureaucracy. Click here for a copy of the Governor's message to the Legislation and his changes. 

February 11, 2016 - LAW DAY V - REGISTER ONLINE
Eisenhower Conference Center, Livingston

NJSA's Law Day has become a must-attend event for owners, managers, and operations staff needing to know the latest in employment law and legislative issues. 
          • This year we will have speakers on the following topics:
          • Effectively Passing the Claim Blame: A Look at Contractual Obligations & Liability Requirements
          • How to Handle Difficult Employee Relations Issues
          • Avoiding & Mitigating Wage & Hour Claims
          • Employee Legislative Issues: A Look at Federal & State Hot Buttons
 
WORKSHOP:  HOW TO MINIMIZE THE RISK OF JOINT EMPLOYMENT LIABILITY

Alexa Miller
David Lichtenberg
The National Labor Relations Board recently expanded the definition of what it means to be a "Joint Employer" in the eyes of the law, and in doing so rejected 30 years of precedent. This expansion projects to have serious implications for businesses that use temporary agencies or staffing companies, exposing your clients and prospective clients to increased joint liability concerns. This session will help you understand the challenges these changes create, and present clear guidance on how to manage and avoid co-employment liability. 


More Legal Updates can be found at next week's LAW DAY V... February 11, 2016.  Don't miss this event... use your "free" educational coupon and send your operations staff.


Click here for full event details and register today!
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