U.S. Chamber Letter Supporting S. 2512, the "Auto Reenrollment Act of 2023"

Dear Senators Cassidy and Kaine

The U.S. Chamber of Commerce supports S. 2512, the Auto Reenrollment Act of 2023, which would expand retirement coverage by allowing, but not mandating, employers to reenroll individuals in the employer's retirement plan.

This bill would permit employers to expand retirement plan coverage and security by encouraging employees to take full advantage of their retirement benefits. It would codify an employer's ability to reenroll individuals who affirmatively opted out of the employer's plan. Under the bill an employer may reenroll employees every one to three years. The flexibility in the bill would help employers design a reenrollment option suited for the employer's workforce.

We thank you for your bipartisan work on this issue, and we look forward to working with you on this and other retirement and financial security issues.

Sincerely,
Chantel Sheaks
Vice President, Retirement Policy
U.S. Chamber of Commerce

About the author

Chantel Sheaks

Chantel Sheaks develops, promotes, and publicizes the Chamber’s policy on retirement plans, nonqualified deferred compensation, and Social Security.

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