H 1403: Deferred Compensation Plans for Public Employees

Summary

Authorizes inclusion of automatic enrollment arrangement in government employee's deferred compensation plan; requires that automatic enrollment arrangement be established with default contribution rate; authorizes periodic reenrollment of specified government employees; authorizes periodic resetting of contribution rates for specified government employees; requires that automatic enrollment arrangement provide employees ability to make certain elections regarding contributions; requires that plan provide for default investment into which contributions must be placed under specified circumstance; authorizes counties, municipalities, political subdivisions, & constitutional county officers to adopt automatic enrollment arrangements for specified deferred compensation programs; provides that deferred compensation plan of state may adopt automatic enrollment arrangement only upon approval of Legislature; requires that certain deduction of wages or salary of employees be treated in specified manner.

Latest recorded action

No action recorded yet.

Mar 13, 2026

This is the latest action supplied by the source, not the full legislative history.

Track bills like this one

Mandate alerts you when a bill that matters to your organization moves, and explains what it means.