Labor & Employment (Retirement Benefits)

HB 1270 allows counties, municipalities, and other political subdivisions to automatically enroll their new employees into deferred compensation plans. This applies to eligible new employees, whether they are joining the state's deferred compensation plan or a local government's own plan. Employees who are automatically enrolled will have the option to opt out if they choose. This bill provides local governments with the mechanism to streamline enrollment in retirement savings programs for their workforce.