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FL H0985
Bill
Status
Failed
6/16/2025
Primary Sponsor
Juan Porras
Click for details
AI Summary
- Cited as the "Deferred Compensation Automatic Enrollment Act," authorizing state and local government deferred compensation plans to include automatic enrollment arrangements where employee compensation is deducted and contributed unless the employee opts out or chooses a different contribution rate
- Automatic enrollment arrangements must establish a default contribution rate and a default investment option for contributions when an employee does not make an active investment election
- Plans may periodically reenroll eligible non-participating government employees and periodically reset contribution rates for employees contributing below the default rate
- Counties, municipalities, political subdivisions, and constitutional county officers may adopt automatic enrollment by ordinance or contract, but the state's own deferred compensation plan requires separate legislative approval to add automatic enrollment
- Amends ss. 110.114 and 112.171, F.S., to treat payroll deductions made under an automatic enrollment arrangement as legally authorized and requested by the employee, effective July 1, 2025
Legislative Description
Deferred Compensation Plans for Public Employees
Last Action
Died in Government Operations Subcommittee
6/16/2025
Committee Referrals
Government Operations Subcommittee3/2/2025
Full Bill Text
No bill text available