IN SB0570

Automatically enrolls state employees hired after June 30, 2007 in the state's deferred compensation plan on day 31 of employment unless they opt out

Sets the initial automatic contribution at the greater of the maximum state match to a defined contribution plan or 0.5% of the employee's base salary, effective July 1, 2011

Automatically increases the contribution percentage by 0.5% each year on the enrollment anniversary for five years, up to a maximum of 3% of base salary

Allows employees to affirmatively choose a different contribution amount, including zero, at any time to override the automatic deduction schedule

Requires the auditor of state to provide written notice with the first paycheck explaining the plan, opt-out procedures, tax consequences, and state matching details