SB 27 Summary

• Authorizes automatic enrollment of new state government employees in the Ohio Public Employees Deferred Compensation Program if their employing authority elects to participate.

• Allows employing authorities (including legislative bodies, state officials, and the director of administrative services) to elect automatic enrollment, which must commence as soon as administratively practical.

• Sets automatic deferral amounts at no more than 10% of an eligible employee's compensation or the maximum contribution allowed under federal law, with investment options specified by the board.

• Requires employing authorities to provide employees with notice of their rights and obligations regarding automatic enrollment, and permits employees to opt out of participation.

• Prohibits automatic enrollment elections that conflict with collective bargaining agreements and allows employing authorities to cease automatic enrollment with at least 90 days' notice.