An Act relative to the SMART plan

This bill (S 1878) updates Massachusetts' deferred compensation program rules for state and local government employees. It redefines "contracted employees" to include those working on the program, making them eligible for the state retirement system. The key provision creates an automatic enrollment feature for new state employees hired after June 1, 2022 (with agency discretion for some), requiring no prior employee authorization for payroll deductions. Employees can opt out within 90 days and receive refunds if they discontinue participation early. The bill also extends similar automatic enrollment options to local government bodies for employees hired after June 1, 2024.