S. 3615 modifies federal tax law to exempt multiemployer pension plans from automatic enrollment requirements that apply to most other retirement plans. Under current rules, employers must automatically enroll eligible employees in retirement savings plans unless specific exceptions apply; this bill adds multiemployer plans—which are jointly managed by unions and multiple employers—to the list of plans that don't have to follow this requirement. The change affects workers and employers participating in these shared pension systems, particularly in unionized industries. The bill takes effect for tax years beginning after December 31, 2024, and carries no specified funding requirements since it is a tax code amendment rather than an appropriations bill.
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