S1068: Deferred Compensation Plans for Public Employees

Legislative Summary

Citing this act as the "Deferred Compensation Automatic Enrollment Act'; authorizing the inclusion of an automatic enrollment arrangement in a government employee's deferred compensation plan; requiring that the automatic enrollment arrangement be established with a default contribution rate; requiring that the automatic enrollment arrangement provide employees the ability to make certain elections regarding contributions; authorizing counties, municipalities, political subdivisions, and constitutional county officers to adopt automatic enrollment arrangements for specified deferred compensation programs, etc.