Texas HB2783 mandates automatic participation of certain county employees in deferred compensation plans, with a default investment of 3% of their.

HB2783 requires certain county employees to automatically participate in deferred compensation plans offered by their county, unless they opt out. Employees contribute 3% of their earnings to a default investment product chosen by the plan administrator. Counties must inform new hires about automatic enrollment and their right to opt out during orientation. The act applies to employees hired on or after January 1, 2026. The payroll deductions for these contributions are not considered debt payments, garnishment, or wage assignments.

Texas HB2783 mandates automatic participation of certain county employees in deferred compensation plans, with a default investment of 3% of their.

HB2783 requires certain county employees to automatically participate in deferred compensation plans offered by their county, unless they opt out. Employees contribute 3% of their earnings to a default investment product chosen by the plan administrator. Counties must inform new hires about automatic enrollment and their right to opt out during orientation. The act applies to employees hired on or after January 1, 2026. The payroll deductions for these contributions are not considered debt payments, garnishment, or wage assignments.