MI SB1142

Allow public employers to deduct wages from employees for contributions to retirement plans under Internal Revenue Code sections 125, 401(k), 403(b), 408, 408A, or 457, with written notice required before initial deduction.

Permit public employers to automatically enroll employees in qualifying retirement plans, with employees given quarterly opportunities to select or change their investments.

Limit employer and plan official liability for default investment decisions made on behalf of participating employees if notice requirements are met and employees can change investments at least quarterly.

Require employers to provide participating employees with notice of default investment decisions, descriptions of available investment alternatives, and annual notices of actual default investments made.

Define "public employer" to include the state, state agencies, cities, counties, villages, townships, school districts, intermediate school districts, and institutions of higher education.