Read the full stored bill text
Florida Senate
-
2026
SB 1018
By
Senator Truenow
13-01050A-26 20261018__
1 A bill to be entitled
2 An act relating to deferred compensation plans for
3 public employees; providing a short title; amending s.
4 112.215, F.S.; authorizing the inclusion of an
5 automatic enrollment arrangement in a government
6 employee’s deferred compensation plan; requiring that
7 the automatic enrollment arrangement be established
8 with a default contribution rate; authorizing the
9 periodic reenrollment of specified government
10 employees; authorizing the periodic resetting of
11 contribution rates for specified government employees;
12 requiring that the automatic enrollment arrangement
13 provide employees the ability to make certain
14 elections regarding contributions; requiring that the
15 plan provide for a default investment into which
16 contributions must be placed under a specified
17 circumstance; authorizing counties, municipalities,
18 political subdivisions, and constitutional county
19 officers to adopt automatic enrollment arrangements
20 for specified deferred compensation programs;
21 providing that the deferred compensation plan of the
22 state may adopt an automatic enrollment arrangement
23 only upon the approval of the Legislature; amending
24 ss. 110.114 and 112.171, F.S.; requiring that a
25 certain deduction of the wages or salary of employees
26 be treated in a specified manner; providing an
27 effective date.
28
29 Be It Enacted by the Legislature of the State of Florida:
30
31 Section 1.
This act may be cited as the “Deferred
32
Compensation Automatic Enrollment Act.”
33 Section 2. Subsection (3) of section 112.215, Florida
34 Statutes, is amended to read:
35 112.215 Government employees; deferred compensation
36 program.—
37 (3)
(a)
In accordance with a plan of deferred compensation
38 which has been approved as herein provided, the state or any
39 state agency, county, municipality, other political subdivision,
40 or constitutional county officer may, by contract or a
41 collective bargaining agreement, agree with any employee to
42 defer all or any portion of that employee’s otherwise payable
43 compensation and, pursuant to the terms of such approved plan
44 and in such proportions as may be designated or directed under
45 that plan, place such deferred compensation in savings accounts
46 or use the same to purchase fixed or variable life insurance or
47 annuity contracts, securities, evidence of indebtedness, or such
48 other investment products as may have been approved for the
49 purposes of carrying out the objectives of such plan. Such
50 insurance, annuity, savings, or investment products
must
shall
51 be underwritten and offered in compliance with the applicable
52 federal and state laws and regulations by persons
who are
duly
53 authorized by
the
applicable state and federal authorities.
54
(b)
Such plan of deferred compensation may include an
55
automatic enrollment arrangement under which a government
56
employee’s otherwise payable compensation is deducted and
57
contributed to the plan unless the government employee elects
58
not to contribute or elects to contribute a different rate or
59
amount. Such automatic enrollment arrangement must establish a
60
default contribution rate, may provide for the periodic
61
reenrollment of government employees eligible but not
62
participating in the plan, and may allow the periodic resetting
63
of contribution rates for government employees contributing at
64
rates lower than those established by the automatic enrollment
65
arrangement.
66
(c)
An automatic enrollment arrangement must provide that a
67
government employee may, at any time, elect not to contribute to
68
the plan or may elect to contribute to the plan at a different
69
rate or amount than the default rate.
70
(d)
If a deferred compensation plan includes an automatic
71
enrollment arrangement, the plan must provide for a default
72
investment into which contributions must be placed in the
73
absence of an election from the government employee.
74
(e)
Any county, municipality, or other political
75
subdivision of the state may by ordinance, and any
76
constitutional county officer under s. 1(d), Art. VIII of the
77
State Constitution may by contract agreement or other
78
documentation constituting approval, adopt an automatic
79
enrollment arrangement for its own deferred compensation
80
program. Notwithstanding subsection (4), the deferred
81
compensation plan of the state may adopt an automatic enrollment
82
arrangement only upon the approval of the Legislature and not
83
pursuant to the authority of the Chief Financial Officer.
84 Section 3. Subsection (1) of section 110.114, Florida
85 Statutes, is amended to read:
86 110.114 Employee wage deductions.—
87 (1) The state or any of its departments, bureaus,
88 commissions, and officers are authorized and permitted, with the
89 concurrence of the Department of Financial Services, to make
90 deductions from the salary or wage of any employee or employees
91 in such amount as
shall be
authorized and requested by such
92 employee or employees and for such purpose as
shall be
93 authorized and requested by such employee or employees and shall
94 pay such sums so deducted as directed by such employee or
95 employees.
Deduction of the salary or wage of an employee as
96
authorized by an automatic enrollment arrangement pursuant to s.
97
112.215(3)(c) must be treated as authorized and requested by
98
such employee for purposes of this subsection.
The concurrence
99 of the Department of Financial Services
may
shall
not be
100 required for the deduction of a certified bargaining agent’s
101 membership dues deductions pursuant to s. 447.303 or any
102 deductions authorized by a collective bargaining agreement.
103 Section 4. Subsection (1) of section 112.171, Florida
104 Statutes, is amended to read:
105 112.171 Employee wage deductions.—
106 (1) The counties, municipalities, and special districts of
107 the state and the departments, agencies, bureaus, commissions,
108 and officers thereof are authorized and permitted in their sole
109 discretion to make deductions from the salary or wage of any
110 employee or employees in such amount as
shall be
authorized and
111 requested by such employee or employees and for such purpose as
112
shall be
authorized and requested by such employee or employees
113 and shall pay such sums so deducted as directed by such employee
114 or employees.
Deduction of the salary or wage of an employee as
115
authorized by an automatic enrollment arrangement pursuant to s.
116
112.215(3)(c) must be treated as authorized and requested by
117
such employee for purposes of this subsection.
118 Section 5. This act shall take effect July 1, 2026.