Page 138

House Bill No. 5506

Public Act No. 22-118 138 of 739

Comptroller shall provide notice of any deferment of the effective date of the program to the chairpersons and ranking members of the joint standing committee of the General Assembly having cognizance of matters relating to labor not later than seven days after the [authority] Comptroller has deemed such deferment necessary. Such notice shall include the categories of employers affected, the purpose for which the deferment was granted and the new effective date of the program. (b) A private employer with four employees or fewer may make the program available to its employees subject to such [rules and procedures] regulations as may be [prescribed] adopted by the [authority] Comptroller, in accordance with the provisions of chapter 54. No such employer shall require any employee to enroll in the program. (c) Any individual who is not enrolled in the program pursuant to subsection (a) of this section may participate in the program at any time subject to such [rules and procedures] regulations as the [authority] Comptroller may [prescribe] adopt, in accordance with the provisions of chapter 54. The [authority] Comptroller shall provide the informational materials described in section 31-419 to any such individual at or before the time of such individual's enrollment in the program. (d) To the extent permitted under the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, the [authority] Comptroller shall allow any individual to establish or contribute to an individual retirement account maintained for such individual under the program by rolling over funds from an existing retirement savings account of the individual. (e) A qualified employer that withholds a contribution from a covered employee's compensation in connection with the program shall