There are roughly 3.5 million private-sector workers in New York City, a significant percentage of whom have no access to retirement savings whatsoever. This bill would establish an individual retirement account (IRA) program for private-sector workers at businesses with 10 or more employees located in New York City that do not already offer retirement savings plans. Enrollment in the program is automatic, but employees may opt out. Contributions are handled through payroll deductions and set at a default rate, but employees may change their contribution rate. Savings accounts would be comprised of individual employees’ savings only; neither employers nor the City would contribute to individual accounts. Covered employers would be required to distribute program information to employees. The bill also sets forth a complaint procedure and civil penalties for violations.