The New York City Council - File #: Int 0888-2018

• File #: Int 0888-2018
• Version: A
• Name: Establishing a retirement savings program for certain self-employed individuals and employees of private entities.
• Type: Introduction
• Status: Enacted
• File created: 5/9/2018
• In control: Committee on Civil Service and Labor
• On agenda: 5/9/2018
• Final action: 5/11/2021
• Title: A Local Law to amend the administrative code of the city of New York, in relation to establishing a retirement savings program for certain self-employed individuals and employees of private entities
• Sponsors: Ben Kallos, I. Daneek Miller, Brad S. Lander, Helen K. Rosenthal, Margaret S. Chin, Farah N. Louis, Antonio Reynoso, Fernando Cabrera , Paul A. Vallone, Daniel Dromm , Adrienne E. Adams, Alan N. Maisel, Diana I. Ayala, Robert E. Cornegy, Jr., Francisco P. Moya, Peter A. Koo, Inez D. Barron, Rafael Salamanca, Jr., Vanessa L. Gibson, Mark Gjonaj , Carlina Rivera

Date	Ver.	Action By	Action	Result
5/14/2021	A	City Council	Recved from Mayor by Council
5/11/2021	A	Mayor	Signed Into Law by Mayor
5/11/2021	A	Mayor	Hearing Held by Mayor
4/29/2021	A	City Council	Sent to Mayor by Council
4/29/2021	A	City Council	Approved by Council	Pass
4/29/2021	*	Committee on Civil Service and Labor	Hearing Held by Committee
4/29/2021	*	Committee on Civil Service and Labor	Hearing Held by Committee
4/29/2021	*	Committee on Civil Service and Labor	Amendment Proposed by Comm
4/29/2021	*	Committee on Civil Service and Labor	Amendment Proposed by Comm
4/29/2021	*	Committee on Civil Service and Labor	Amended by Committee
4/29/2021	*	Committee on Civil Service and Labor	Amended by Committee
4/29/2021	A	Committee on Civil Service and Labor	Approved by Committee	Pass
9/23/2019	*	Committee on Civil Service and Labor	Hearing Held by Committee
9/23/2019	*	Committee on Civil Service and Labor	Hearing Held by Committee
9/23/2019	*	Committee on Civil Service and Labor	Laid Over by Committee
9/23/2019	*	Committee on Civil Service and Labor	Laid Over by Committee
5/9/2018	*	City Council	Referred to Comm by Council
5/9/2018	*	City Council	Referred to Comm by Council
5/9/2018	*	City Council	Introduced by Council
5/9/2018	*	City Council	Introduced by Council

Int. No. 888-A

By Council Members Kallos, Miller, Lander, Rosenthal, Chin, Louis, Reynoso, Cabrera, Vallone, Dromm, Adams, Maisel, Ayala, Cornegy, Moya, Koo, Barron, Salamanca, Gibson, Gjonaj and Rivera

Title
A Local Law to amend the administrative code of the city of New York, in relation to establishing a retirement savings program for certain self-employed individuals and employees of private entities
Body

Be it enacted by the Council:

Section 1. Title 20 of the administrative code of the city of New York is amended by adding a new chapter 14 to read as follows:
CHAPTER 14
SAVINGS ACCESS NEW YORK - BOARD AND PROGRAM FOR PRIVATE SECTOR EMPLOYEE RETIREMENT SAVINGS
? 20-1401 Definitions.
? 20-1402 Reserved.
? 20-1403 Establishment of the retirement savings program.
? 20-1404 Certification authorized.
? 20-1405 Reserved.
? 20-1406 Reserved.
? 20-1407 Elements of the retirement savings program.
? 20-1408 Reserved.
? 20-1409 Participating employer obligations.
? 20-1410 Reserved.
? 20-1411 Information and disclaimers to covered employees, other eligible individuals, and participants.
? 20-1412 Reserved.
? 20-1413 Participating employer record retention.
? 20-1414 Enforcement.
? 20-1415 Discontinuation of the retirement savings program.
? 20-1401 Definitions. For purposes of this chapter, the following terms have the following definitions:
Account. The term "account" means an individual retirement savings account established by the retirement savings program.
Administrator. The term "administrator" means any person that has entered into an agreement with the retirement savings board to implement and maintain a retirement savings program or components of such program. More than one person may perform the functions of the administrator, and duties applicable to the administrator shall also apply to persons with whom the administrator co...