Allows State, municipality, and county to implement automatic enrollment of their employees in deferred compensation plans.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows State, municipal, and county governments in New Jersey to automatically enroll their employees in deferred compensation plans. It outlines provisions for employers to establish plans with default deferral percentages and escalation options, while also giving employees the ability to opt-out or choose a different deferral rate. The bill also addresses how unions representing employees should be involved in negotiating the terms of these plans.
Bill text
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Document of record
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