Expands participation in the New York state secure choice savings program

This bill expands New York's Secure Choice retirement savings program by lowering the employer eligibility threshold from 10 to 5 employees. It directly affects small businesses in New York that previously didn't qualify but now meet the new requirement (having 5+ employees, operating for at least two years, and not offering a retirement plan in the past two years). The key change amends the law to define "employer" more broadly for the program, making it accessible to more small businesses. This policy change aims to increase access to automatic retirement savings options for more workers without requiring employers to administer their own plans.