Personal contributions (1) In general The beneficiary of a portable retirement and investment account may at any time contribute additional funds for deposit into such account. (2) Direct deposit Any employer who permits wages to be paid to an employee by electronic funds transfer shall permit such employee to elect to deposit, by means of electronic funds transfer, a portion of such wages specified by the employee into the employee’s portable retirement and investment account. (3) Automatic contribution arrangement Any employer may provide that an employee is treated as having elected to have the employer make contributions in an amount equal to a uniform percentage of compensation disclosed in advance to the employee until the employee specifically elects not to have such contributions made (or specifically elects to have such contributions made at a different percentage). (4) Supersedure Paragraph (4) shall supercede any law of any State (within the meaning of section 514(c)(1) of title 29) which would directly or indirectly prohibit an employer from adopting an arrangement described in paragraph (4). The Director may prescribe regulations which would establish minimum standards that such an arrangement would be required to satisfy in order for this paragraph to apply in the case of such arrangement. (d) Employer contributions The employer of a beneficiary of a portable retirement and investment account may at any time contribute additional funds for deposit into such account. (e) Transfer option (1) In general A beneficiary of a portable retirement and investment account (or, in the case of a beneficiary who is under 18 years of age, the parent or guardian of the beneficiary) may elect at any time to transfer the entire amount in such portable retirement and investment account to any portable retirement and investment account in the private sector (as defined in section 223A of the Internal Revenue Code of 1986) with such beneficiary as the sole beneficiary. (2) Notifications (A) Statements The Director