TX HB2783

Authorizes county commissioners courts to elect by order to require automatic employee participation in deferred compensation plans, with employees automatically enrolled unless they affirmatively opt out

Sets the default contribution rate at 3% of employee compensation, deducted automatically from payroll and invested in a default investment product selected by the plan administrator

Allows participating employees to opt out at any time, change their contribution amount, select different investment products, or designate contributions as Roth contributions if available

Requires electing counties to inform new employees at the time of hire about their automatic enrollment, opt-out rights, and plan options, with the county maintaining records of employee acknowledgment

Applies only to employees who begin employment on or after January 1, 2026, with the act taking effect immediately upon two-thirds vote or September 1, 2025 otherwise