Minnesota Secure Choice Retirement program penalties for noncompliance addition provision

This bill adds financial penalties for Minnesota employers that fail to comply with the Minnesota Secure Choice Retirement Program requirements. Covered employers face escalating fines starting at $100 per employee (capped at $4,000) on the second anniversary of noncompliance, increasing to $500 per employee annually after the fourth year. Employers must be notified in writing before penalties apply and can avoid them by correcting violations within 30 days. The bill also creates misdemeanor charges for willful, intentional failure to remit withheld employee contributions and allows employees or the attorney general to pursue civil or criminal action for noncompliance. It directly affects private employers in Minnesota required to participate in the state's retirement savings program.