The bill amends several sections of the Rhode Island Secure Choice Retirement Savings Program Act to enhance the program's administration and clarify definitions. Key changes include the introduction of a new definition for "optional employee," which refers to individuals age eighteen (18) years or older who are not employed by an eligible employer but choose to enroll in the program. Additionally, the bill specifies that the state investment commission must consider investment offerings at least once every three years, rather than merely approving them.

The bill outlines the enrollment process for employees, stating that optional employees may enroll in the program and that an optional employee who enrolls may withdraw from the program upon providing thirty (30) days' notice to their employer. It also clarifies that employers offering other retirement plans, such as a SIMPLE plan, are exempt from the program's requirements.

Furthermore, the bill includes a severability clause, ensuring that if any provision is found unconstitutional or preempted by federal law, the remaining provisions will still stand. The act is set to take effect upon passage.