Automatic enrollment for public employee deferred compensation plans in Florida.

The bill allows for automatic enrollment in deferred compensation plans for public employees in Florida. It authorizes counties, municipalities, and other political subdivisions to adopt automatic enrollment arrangements for their own deferred compensation programs, subject to certain conditions. The state's deferred compensation plan can adopt such an arrangement only with legislative approval. The bill also mandates that automatic enrollment arrangements establish a default contribution rate and provide for a default investment in the absence of an employee's election.

Automatic enrollment for public employee deferred compensation plans in Florida.

The bill allows for automatic enrollment in deferred compensation plans for public employees in Florida. It authorizes counties, municipalities, and other political subdivisions to adopt automatic enrollment arrangements for their own deferred compensation programs, subject to certain conditions. The state's deferred compensation plan can adopt such an arrangement only with legislative approval. The bill also mandates that automatic enrollment arrangements establish a default contribution rate and provide for a default investment in the absence of an employee's election.