Multiemployer Plan Relief Act

The Multiemployer Plan Relief Act (S 3615) amends the Internal Revenue Code to exempt multiemployer retirement plans from automatic enrollment requirements. This directly affects union-sponsored pension plans (common in industries like construction) by removing them from rules that require automatic enrollment in retirement savings plans for other employer-sponsored plans. The key provision updates Section 414A(c)(3) to explicitly exclude multiemployer plans from the definition of plans subject to automatic enrollment rules. The change takes effect for taxable years beginning after December 31, 2024.