Bill > S1698

This bill amends the Massachusetts General Laws to allow the state treasurer to adopt budgets for the state's deferred compensation program, including salaries for treasury employees who work on the program. The bill also allows the state treasurer to establish an automatic enrollment feature for the deferred compensation program, which would apply to new state employees hired on or after June 1, 2022, and to new employees of other governmental bodies that elect to implement the feature. The automatic enrollment feature would include provisions such as a default deferral percentage, automatic annual increases, a 90-day opt-out period, and a default investment option.

Labor and Employment

https://malegislature.gov/Bills/193/S1698