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GA SB333
Bill
Status
Passed
5/8/2018
Primary Sponsor
Ellis Black
Click for details
AI Summary
- Governing authorities of municipalities may pay costs or fees associated with an employee's participation in a deferred compensation plan when authorized by ordinance or resolution
- Public employees may be automatically enrolled in deferred compensation plans through automatic enrollment arrangements permitted by and operated in accordance with applicable federal laws and regulations
- Salary deductions may now be instituted either at the request of participating employees or pursuant to an automatic enrollment arrangement, expanding beyond the previous employee-request-only method
- Records of participation agreements, payroll deductions, investment options, and individual account information remain confidential and protected from disclosure except for plan administration purposes, subpoena, written employee authorization, or tax authority access
- The Act becomes effective upon approval by the Governor or upon becoming law without such approval
Legislative Description
Deferred Compensation Plans; governing authority of a municipality may pay costs/fees associated with employee's participation; provide
Last Action
Act 447
5/8/2018
Full Bill Text
No bill text available