FL S1018

Authorizes government employers to include automatic enrollment arrangements in deferred compensation plans, where employee wages are automatically contributed unless the employee opts out or chooses a different contribution rate

Requires automatic enrollment arrangements to establish a default contribution rate and a default investment option for contributions when employees do not make an election

Permits periodic reenrollment of non-participating employees and resetting of contribution rates for employees contributing below the default rate

Allows counties, municipalities, political subdivisions, and constitutional county officers to adopt automatic enrollment for their deferred compensation programs by ordinance or contract

Requires state-level deferred compensation plans to obtain legislative approval before implementing automatic enrollment, rather than allowing the Chief Financial Officer to authorize it independently

Effective date: July 1, 2026