Secure Choice Savings Program
The 2018 State Budget created the “Secure Choice Savings Program”, a voluntary-enrollment payroll deduction IRA for employees of private employers that lack a retirement savings program. This program will allow New Yorkers who have no employer-sponsored plan to have funds automatically deducted from their paychecks and placed into a retirement account. The program is voluntary for employees and employers.
Saving Seniors Money
Assemblyman Magnarelli has supported legislation and State Budgets that provide financial relief to seniors on fixed incomes including:
Creating the “Missing Vulnerable Adult” Alert System
Assemblyman Magnarelli sponsored and passed the “Missing Vulnerable Adult Alert” System. “The Missing Vulnerable Adult Alert”, passed in 2011, is modeled after the “Amber Alert”. This system similarly broadcasts early and timely warnings of missing vulnerable adults with diminished mental abilities or physical impairments. Since its inception, several persons around the State have been successfully located because of the system.